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To: Jim 0216

If tariffs are such a failure;

Why is China now rich and powerful?


13 posted on 09/24/2010 7:11:51 PM PDT by Cringing Negativism Network (GOP establishment are dinosaurs. Tea Party is a great big asteroid...)
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To: Cringing Negativism Network
They aren't being accused of tariffs as much as they are having an undervalued currency.

The per capita income is only $6,600 (2009 est.), so I wouldn't call them rich. They have such a large economy because they have 1.3 billion people.

Unlike the US they are pro-business and reaping the rewards. Much lower corporate tax rate (25% vs 40%), few of the regulations, unions, and other red tape we have here. The way to compete with China is to unleash our own businesses, not to get into a trade war.

18 posted on 09/24/2010 7:25:58 PM PDT by Wayne07
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