4/1/10

US Economy - The Jobs Agenda: Step One Is China - by Scott Paul

US policies have led to a massive trade deficit, turbocharged outsourcing, and a dangerous codependency with China: we provide the rich consumers; China provides the cheap goods made possible by state control and massive subsidies, along with the financing.

Here's the cost:

  • 2.4 million jobs lost to China, not only from the Industrial Heartland, but also from the hi-tech corridors of California, New England, and Texas.

  • A reduction in industrial capacity: even during the Great Depression, the U.S. managed a slight increase in industrial production. Not this time.

  • A rich and sad irony: many American consumers--concerned about quality and pride--unable to find American products on the shelves of stores.

  • A quandary for America in the developing world noted by Harold Meyerson: instead of emulating the sometimes dysfunctional democracy of the U.S., more developing nations like what they see in China's mix of mercantilism and authoritarianism.

For more: Scott Paul: The Jobs Agenda: Step One Is China
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1 comment:

  1. Unknown10:01 PM

    Chinas agenda is not only USA, but also Europe, and BRIC countries.

    Chinese government will do anything including all its citizens to skip one meal a day to subsidize their exports to other countries and ruin their economy.

    It is time the world wakes up to this modern communist's business game.

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