Posted on 12/28/2017 8:14:22 PM PST by Tamatoa
“China has been violating the terms of trade agreements by directly and indirectly subsidizing its industries for decades.”
It has been their deliberate strategy - perhaps their greatest focus, second only to policing their people to secure communist party rule.
They cheat in every possible way to gain trade advantages, including massive systematic theft of technology/intellectual property by their Intelligence Services, as well as the world’s largest program to corrupt politicians in other countries.
Bill Clinton’s time as President was a pivotal period of wholesale sellout of American interests, in return for Chinese bribes: https://www.amazon.com/Year-Rat-Clinton-Compromised-Security/dp/0895263335/ref=sr_1_2?ie=UTF8&qid=1514568534&sr=8-2&keywords=year+of+the+rat
He set them up for admission into the World Trade Organization in 2001, which is when the trade deficits exploded. They should not be in the WTO, as they are not free traders.
Thanks for this complete posting. Let me take a different perspective on why the US enabled the transfer of manufacturing and production to Communist China: our own economic policies to begin with. Start with Sherman Anti-Trust Act. Add income tax which Americans in the early 20th Century were unaccustomed to. Add the slow but steady assumption that “robber baron” industrialists required regulation in order to make them law abiding. Then the final blow occurred in my lifetime: the end of the gold standard thanks to a Republican President!
And what we had by the time he also pulled back the “iron curtain” of Red China was a sagging US economy. By the 80’s the value of the US dollar was in steady decline. And Americans could not afford to buy basic items let alone the luxuries like trips, entertainment, household goods, due to massive regulation, taxation and inflation. Instead of embracing small government, the United States sent production overseas where slave labor rates and unregulated economies could manufacture goods and ship it back for less than an American company could charge the consumer.
Red China has blasted past us because their citizens only had to deal with bribery and corruption rather than regulation and unions and OSHA and workmen’s comp, etc. They are freer in some ways than any American business owner.
That’s my take on what I’ve been watching and learning about (economically) over the past 40 years. I’m happy we have a President who understands the fundamental economics, but there is no way he can end the massive over-regulation even if he wanted to. I’m sad to say. I’m not even sure he would eventually try to get the dollar tied to the gold standard once again. I won’t be around anyway. But at least we’ve had a bit of a reprieve to allow the better thinkers to have time to spread ideas to the masses.
‘... temporarily exempt foreign companies from paying tax on their earnings ...’
How interesting.
A temporary offer is not exactly something to build on.
And what happens if there’s war in North Korea? Who wants to invest in a nation near there?
So Trump’s new tax law is working. (China expects to lose companies because of the new law.)
So Trump’s new tax law is working. (China expects to lose companies because of the new law.)
“... bid to keep American businesses from taking their profits out of China...”
But.... but... Gee, I thought the Communist System was SOOOOO much better than capitalism and profits...
I guess, though, you know, “True Communism’s never reeeeeealy been tried” after all...
/s
Bring our companies home, employ only Americans, get OUR economy roaring to life and let the commies and their democrat buddies choke on it.
MAGA
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.