Free trade paid for their economic ascendancy and their military buildup. Manufacturing capital and jobs moved out of the United States to China and other Asian countries. As a result we have a shrinking middle class, rising wealth concentration in the hands of a few elitists, huge social welfare expenditures, a huge unemployed working age population and an increasingly authoritarian government giving the sheeple a few crumbs in exchange for votes. This is what every third world dictatorship looks like.
After this 25 year experiment with free trade and globalization, where are the benefits promised? There are none, at least for the average citizen, and if we continue down the current road the USA will be a third world hellhole in 20 years.
While we stand by practicing open markets free trade, China and every other “trading partner” views us as easy pickings. They practice bare knuckle economic mercantilism, not to mention theft of intellectual property and overt hacking of computer systems in order to damage commerce, while we silently stand and take the punches.
It is time to end this foolish academic experiment which has destroyed our manufacturing infrastructure, is destroying the middle class, and will destroy our republican form of government. Let’s start fighting back with a 30% levy on all imported goods. Take the corporate tax rate to zero on profits realized from domestic production. Lift regulatory burdens and apply tax dollars to rebuilding our infrastructure instead of funding worthless “education” and social welfare programs. Direct education “investment” to trade schools teaching real skills, not liberal arts theories.
Do this and China’s export economy will be crushed while the US economy will prosper. Continue with the current failed “free trade” policies and China will complete the conversion of its export factories to supplying the needs of its growing middle class. Once that transformation occurs, the US will be a hopelessly indebted nation with no industrial infrastructure to revitalize its economy and most of its citizens will enjoy the lives similar to those of the unemployed in Central America, Bangladesh, and most African nations.
I was getting my business degree When the global free trade started gaining traction. It was sold to me as a win-win for US, but it has not worked out that way. Our tax code and labor laws hasn’t helped, also we provide military for free to other countries, etc., so all things are not equal.
Great review of the reality of the Lie sold to us.
” where are the benefits promised? “
Hey...iPhones cost $30 less then if they were produced in the U.S. ! Woo hoo! Big Win!
I have been all across America in the 25 years since this crap got turbocharged in the early 90s. It makes me sick. Factories shut down in the mid West, the South, the Northeast and even the West: the only thing that survives are government related, living on inflated costs and U.S. only restrictions.
One comment: we just had the spectacle of the Muslim-In-Chief bowing to the latest Arab monarch to sit on Saudi Arabia’s throne. But is that where the dynamism has been?
No. It’s in Texas and North Dakota, where we have used our technology and willpower to frack our way out of dependence on them. But did we see this “president” out in Eagle Ford, high fiving the people? No. They are being laid off while the nowhere people’s cartel tries desperately to run them out of business.
How ‘bout a bit of help for our people too?
Thank you, one of the best post I’ve ever read on FR. It’s way past time the free traitors realize China is our major enemy. Giving the golfer in chief “fast-track authority” is pure suicide for our country. I’ll have to say though the trade deals with the Japanese were just as bad. They destroyed eight of the top ten industries in our country. My state was particularly hard hit. At one time I read of Japanese flags flying over my city. Good thing I wasn’t there that day, you would have seen me arrested for urinating on their flags, My uncle was a Marine on Okinawa. The idiots in our country don’t have a clue what is about to happen to them.
+1
The Chinese spend $131 billion a year on defense, we spend $640 billion. Somethin’ ain’t right with this story.