Georgia will lose if U.S.-China trade is less free, more hostile

We have a trade problem with China. But Georgians will pay dearly if Congress keeps taking the wrong approach to solving it.

That approach is to punish China for currency manipulation. The bill being debated in the U.S. Senate applies to any country that Washington deems to have undervalued its currency and hurt our exports. But China, with which we had a $273 billion trade deficit last year, is the target.

Beijing’s manipulation of its currency, the yuan, has been a favorite bogeyman of members of Congress for years — most notably Sens. Charles Schumer, D-N.Y., and Lindsey Graham, R-S.C. Generally speaking, when politicians from both major parties continue to flog an issue for years on end, it makes for much better politics than policy. The currency bill would not solve our problems with China, real or imagined.

First, the imagined problem: that yuan manipulation contributes to our high unemployment rate.

The yuan was most undervalued versus the dollar from the mid-1990s to the mid-2000s — a time of low U.S. unemployment. Beijing began letting the yuan appreciate in value in 2005.

It has risen about 23 percent since then. Yet, the U.S. unemployment rate rose sharply during the same time period. Simply put, there’s no correlation between the yuan-dollar rate and U.S. joblessness.

The other problem you’ll hear about is our trade deficit with China. The real issue is that we export too little to China. Attacking the exchange rate is not the way to boost the goods and services we sell to the Chinese.

Instead, a currency fight could provoke a costly trade war with one of our most important trading partners. By “our,” I mean not just Americans’, but Georgians’.

Last year, China was tops in imports to Georgia and second only to Canada among destinations for our exports. Georgia exports to China were worth nearly $2.4 billion, up more than one-third from 2009. Wood pulp, aircraft and plastic were among the industries that did the most business with China.

The risk is that the currency bill would spark retaliation from China, which would provoke another measure from our side, and so on — until it grew into a full-blown trade war that made goods pricier for consumers and crimped exports, killing more jobs.

“There is no way a spiral of trade conflict can help the United States,” says Derek Scissors, an expert on U.S.-Asia economic policy at the Heritage Foundation. “It can hurt the Chinese worse, but it cannot help the United States.”

A far better way to boost exports is to negotiate with Beijing to improve our access to the Chinese market.

“What they say” now, Scissors says of Chinese authorities, “is state-owned enterprises must lead or dominate the following 20 industries. … “They’re going to not allow you [as a U.S. firm] to expand, not allow you to sell, not allow you to get licenses.”

Those sectors range from automobiles and banking to ones in which Georgia firms are more prominent, such as poultry and chemicals.

Poultry, he says, is an example of how even legitimate trade complaints can spiral.

“China has been messing with us on poultry exports for quality control because we messed with them on quality control — because their stuff kills people,” Scissors says. “We have a justified quality control issue; the Chinese retaliate. So someone loses even though we have a completely justified issue.”

With better access, Scissors estimates U.S. companies’ market share in China could be double what it is now.

Liberalizing trade rules — one of the key means through which the world economy grew, and people climbed out of poverty, in the last half-century — is far preferable here to picking a trade war. Legislators and presidents from both parties, however, have made it harder to open trade by focusing on the yuan and other peripheral issues.

Unfortunately, both of Georgia’s senators voted to advance the bill (albeit without committing to supporting the final legislation). And six members of our House delegation — all five Democrats, plus Republican Lynn Westmoreland — are co-sponsors of a similar bill in that chamber.

For Georgia’s sake, they need to reconsider.

– By Kyle Wingfield

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71 comments Add your comment

JF McNamara

October 6th, 2011
6:05 am

Wow, I can’t even believe I made it all the way through this post. I almost quit six times, but I gave the benefit of the doubt that you might get one thing right. It never happened.

Please e-mail our Congressional delegation and ask why they want this. Maybe I’m the one who doesn’t understand it.

Karl Marx

October 6th, 2011
6:21 am

You can’t paint every trade issue with a immature libertarian brush. We have been in a trade war with China for years but Our government chose to ignore it. Everything China ships is government subsidized to drive US manufacturing out of business. There has never been a level playing field with China.It’s about time we stopped accepting scraps from them and fight back.

Ayn Rant

October 6th, 2011
6:37 am

Wow, a sensible position from the right-wing! You don’t pick a quarrel with your banker. If the Chinese currency is “undervalued” then let’s undervalue the dollar.

China won’t like an undervalued dollar since it hold $3.2 trillion dollar-denominated reserves. But it’s arrogant and stupid of us to insist that China adjust its currency.

The sad truth is that we can’t compete with Asian government and free market capitalism regardless of the exchange rate. Our economy is seized up with political incompetence and sabotage, and coddled, non-competing Big Businesses that find marketing Asian goods under American brand names is more profitable and less trouble than manufacturing the goods in the US.

ragnar danneskjold

October 6th, 2011
6:40 am

Well argued. Only the irrational grand-standers in Washington would so-punish the American consumer. To now, the absence of such mindless trade legislation was the only meaningful difference between the Great Depression and the Great Recession; looks like the politicians are willing to extend the current economic malaise.

DeborahinAthens

October 6th, 2011
6:45 am

I agree with you, Kyle! He’ll must be freezing as I type…You are so right. Every time the government try’s this type of manipulation, it is a disaster. One of the major reasons for the Great Depression was the tariffs we put on imported goods. If you leave things alone, if you make a product that is competitive, we will eventually work our way back. You cannot makes cars with worker that make $24 an hour and be able to compete with Asian automakers. There are some things about China that are troubling that the international community should adjudicate. They have no compunction about stealing our innovative ideas. They have no compunction about making products that contain deadly materials that they can sell cheaply to us. But bottom line, we are the problem. The American consumer wants more and more but they don’t want to pay a fair price for
anything. The airlines have gone bankrupt and are going bankrupt because people think they have the right to fly for the same rate they can take a bus. Banks made a lot of very stupid moves with subprime mortgages, etc. but why should you expect a bank to give you unlimited services for free? We are our own worst enemies.

DeborahinAthens

October 6th, 2011
6:49 am

By the way I meant HELL in the post above not “he’ll freeze over.”. God love Steve Jobs and my I Pad, but sometimes it insists on changing words, and it hates the word “hell”. Fair winds and following seas, Steve Jobs.

Joel Edge

October 6th, 2011
6:54 am

“negotiate with Beijing”
Good luck on that, Kyle. Let me know how that works out.

Lil' Barry Bailout (Unexpectedly Revised Downward)

October 6th, 2011
6:55 am

“Our economy is seized up with political incompetence and sabotage”
———————

For example, our government’s recent efforts to ‘prevail’ over banks, outlaw profit, and run various industries.

We’ll fix that in 2012.

China Lee

October 6th, 2011
7:02 am

In 2005, the exchange rate was 8.27 Chinese Yuans for one U.S. Dollar. (Source: http://en.wikipedia.org/wiki/Renminbi )

In 2011, the exchange rate is 6.36 Chinese Yuans for one U.S. Dollar. (Source: http://www.x-rates.com/d/USD/table.html )

The Chinese currency has appreciated 30% against the U.S. Dollar in the last 6 years. What are the U.S. Senators complaining about?

—-

Math:

In 2005, one Yuan was worth 12.09 cents. [1 dollar / 8.27 yuans = 12.09 cents per Yuan]
In 2011, one Yuan is worth 15.72 cents. [1 dollar / 6.36 yuans = 15.72 cents per Yuan]

Yuan appreciation = (15.72 cents – 12.09 cents) / 12.09 cents * 100 = 30.02% appreciation vs. U.S. dollar

Poor Boy from Alabama

October 6th, 2011
7:07 am

KW,

I often like your blog posts, but you”re papering over legitimate issues the US has with China. You’ve also missing some key facts.

Let’s take your point about unemployment and the undervalued yuan during the period of the mid-1990s to the mid-2000s. The US lost about 3 million manufacturing jobs between January 1995 and January 2005 according to statistics from the Bureau of Labor Statistics. Between 1995 and 2005 the US trade deficit for goods grew from about $174 billion per year to $781 billion per year according to the Bureau of Economic Analysis. Trade with China certainly played a role in both the loss in manufacturing jobs and the growing trade deficit for goods.

An analysis of more recent data by the Economic Policy Institute suggests that the US lost 2.8 million jobs between 2001 and 2010 due to our trade deficit with China.

http://www.epi.org/publication/growing-trade-deficit-china-cost-2-8-million/

No matter how you slice it, it’s hard to make the case that our large trade deficits with China haven’t hurt the US economy.

Let’s see what Congress comes up with before we dismiss their efforts out of hand.

Lil' Barry Bailout (Unexpectedly Revised Downward)

October 6th, 2011
7:11 am

I’d like to hear what folks think the solutions are to losing manufacturing jobs to countries where workers make $3 an hour.

jconservative

October 6th, 2011
8:07 am

“I’d like to hear what folks think the solutions are to losing manufacturing jobs to countries where workers make $3 an hour.”

OK here goes:

Cut taxes. Cut government spending. Pass the Balance the Budget Amendment.

That should pretty well fix any and all economuc problems.

Lee

October 6th, 2011
8:11 am

Our politicians had better worry about our own currency manipulation, what with Bernanke printing money as if this were Zimbabwe.

I don’t worry about some China worker stuffing $2 toys in a box. What we should be worrying about is the offshoring of heavy industry. Also, look at how many coal fired electricity generating plants have announced shutdowns due to EPA environmental regulations.

Of course, with America’s changing demographics to a third world population, it’s just a matter of time before this giant Ponzi Scheme collapses.

roughrider

October 6th, 2011
8:42 am

We need to repeal NAFTA and CAFTA, put a high tarrif on imported goods. Then we can get our manufacturing base back and negoitate with China from a position of strength.

seabeau

October 6th, 2011
8:48 am

There is a very simple solution to this problem and our present problem of lack of jobs,simply let Congress pass a law stating ,that all durable goods SOLD in the US be MADE in the US.

Don't Tread

October 6th, 2011
8:55 am

We should never have given them “most favored” trade nation status. Thanks, Bill Clinton.

We should never have allowed them to finance our debt. Thanks, GWB.

As a result, we can’t protect Taiwan from the Communist Chinese today, and S. Korea and Japan in the near future. At some point, we won’t even be able to protect our own territory.

Lynnie Gal

October 6th, 2011
8:56 am

How do you think that China became this economic superpower, Kyle? They manipulated their currency to best us in trade and we lost our manufacturing base. Losing manufacturing, plus the corruption of our banking system and Wall Street due to no regulation or oversight, is why people are out of work. So, therefore, there is a DIRECT link between China’s manipulation of currency and our unemployment problem. You conservatives don’t want to fix any economic problems, do you? You just want to keep cutting taxes for the wealthy and deregulate businesses, doubling down on your already failed economic fantasy.

Lil' Barry Bailout (Unexpectedly Revised Downward)

October 6th, 2011
9:05 am

It’s clear from most of the posts here that economics education in the U.S. is sorely lacking.

seabeau

October 6th, 2011
9:08 am

I also believe the China is the greatest threat to our country today. We need to drop Pakistan and align ourselves with the world’s largest democracy, India. India is on China’s southwest flank and has allready fought several border wars with China. If war with China ensues,and I think that it is not if but when,India would be a great help to us.

Lil' Barry Bailout (Unexpectedly Revised Downward)

October 6th, 2011
9:10 am

I don’t know about the rest of you, but I LIKE having others subsidize the products I buy.

Fear not, eventually the Chinese people will tire of being impoverished to our benefit, and will demand higher wages and a stronger currency.

Meanwhile, y’all might look up “comparative advantage”.

Bart Abel

October 6th, 2011
9:11 am

We shouldn’t be concerned about China retaliating against us. When manipulating their currency, they should be concerned about us retaliating against them. If there is a “trade war”, then they started it. This legislation is a reasonable response.

GT

October 6th, 2011
9:16 am

ABC News has had an excellent running special on “Made in America”. I realize that is too high brow or liberal for the taste of most Georgians, but they pretty well show that if we buy American, 10s of thousands of jobs are created for American workers. God I know I have lived too long when I watch conservatives defend China and “liberals” defend “made in America”.

One other thing the price of things like pecans have tripled for Americans in the last couple of years and you can’t really get a good pecan product here. It is all be shipped to the highest bidder in China. So we get the inflation which only makes a few farmers rich, adds very few more jobs since pecan trees take much longer to grow so the supply and added work is limited. We actually lose jobs there too in China for packaging and retail.

Voice of Reason

October 6th, 2011
9:18 am

Alright guys, let tax the hell out of imported good and/or mandate that everything must be made in America. Get ready to pay double or more for nearly everything you buy. You people are thick.

Lee

October 6th, 2011
9:19 am

Let’s see, there are three ways a country can create wealth: Grow it, Make it, or Mine it.

The government now pays farmers not to grow crops and up around my way, we have subdivisions sitting where soybeans and cotton once grew.

The demise of American textile manufacturing is a prime example of how poor government policy coupled with corporate greed decimated an entire sector. Steel industry is another.

If it were up to the EPA and the enviro-idiots, all mines and drilling would cease to exist. So, they do the next best thing and attack the end users such as coal fired power plants.

Newsflash, accountants and lawyers don’t create wealth either. And then to top it off, we off-shore engineering to India. Like I said earlier, it’s just a matter of time….

Lil' Barry Bailout (Unexpectedly Revised Downward)

October 6th, 2011
9:22 am

So we pay double or more for American-manufactured TVs and iPhones, and as a result we can’t afford a new Ford F-150 or that vacation trip to Dollywood. Not sure how that helps.

ringing the tills

October 6th, 2011
9:26 am

The only economy I am interested in is the one in my household. since i just got a nice wad of cash from Ford as my part of the company’s positive cash flow over the last 3 years and tough uaw bargaining, I am going to spend it to help boost the economy. i love my uaw…haters can go swallow an ostrich egg omelette.

now, panasonic big screen tv, bose radio, and some pork rinds all from chinese factories. yee ha

Edward

October 6th, 2011
9:26 am

So you people want the air, water, soil here to be the same polluted mess that China now has. So you people here want children working in dangerous factories for pennies an hour, just like China. You people want the same near-total Capitalism that drives China’s economy. Actually, the people of China ARE beginning to speak up and demand better regulation and protection, which is driving the cost of business there up. And that is why so many western corporations are now moving their business to other countries like Vietnam. Greed owes no allegiance to a flag. It isn’t regulation and taxes that are killing US jobs, it is greed.

Lil' Barry Bailout (Unexpectedly Revised Downward)

October 6th, 2011
9:30 am

Edward, where were your shoes made?

Greedy hypocrite.

Glenn

October 6th, 2011
9:32 am

Pretty funny there was also no mention about all the technology China steals from us . They are just a horrible trading partner and a danger to our national security . We should atleast be placing tariffs on good coming here from China . Those products were made by American firms for the most part . That is the price for not only a loss of jobs but also its negative economic impact here in general . The only reason China has raised its currency at all is because of the pressure America has placed on it to do so over the last 6 years or so . But no thats not what has cost the slide in jobs . Its trying to compete against a country with no environmental or labor laws . The Saudis also manipulate our currency but we have never really been concerned about that and they have also proven to be a threat to our national security . The difference is we haven’t give them a sector of our economy .

Call it like it is

October 6th, 2011
9:38 am

Guess what this is not China’s fault its our fault. How many of us had parents or grandparents that said buy American. Yet we didnt, we demanded more and more junk and at lower prices and those demands were met. Just the other day I went to get my child a new bike, every single one made in China, and one week later the pedal threads have been stripped off. People we made this mess, and it will take us to get out of it. When possible buy quality products from your fellow countrymen. Will it cost more, yes. Will it be better made, yes. Will it be worth it, yes.

Alex

October 6th, 2011
9:48 am

Why don’t we all try our best to only buy things made in the USA. I know its hard, especially in certain categories, and we will pay a little extra, but in the long run chances are that you will buy less American made items (say shovels) than you would cheap Chinese items. Paying more upfront and buying less items down the road will ultimately save you money anyways. Now all we have to do is reprogram the American consumers mind from “cheaper is always better and I need it right now” to “I need to save for this quality item and I will in turn not have to buy as many”. I guess the real problem here is to get folks to think further ahead than tomorrow, less like goldfish and more like elephants.. or just actual people… That should do the trick.

Alex

October 6th, 2011
9:49 am

So I should have just said ditto to Call it like it is’s post.

Hillbilly D

October 6th, 2011
10:11 am

Alex @ 9:48

Well said. The problem as I see it, is that we’ve let our economy go from being based on production to based on consumption. Until we turn that around, the slide will continue.

Whenever possible, I buy US made products. When that isn’t possible, I look for something made somewhere other than China. If I can’t find US made, I first try to find Canadian or Mexican made. They are at least our neighbors.

True, we pay more for US made products, in many cases, but would you rather pay a little more for a product or would you rather pay unemployment benefits, etc. for people out of work? I’d rather pay to keep my fellow countrymen working.

Ross Perot was nutty as a fruitcake in many ways but he was dead right about “the giant sucking sound”. The globalists sold us out but they made a lot of money, for themselves, doing it.

[...] We have a trade problem with China. But Georgians will pay dearly if Congress keeps taking the wrong approach to solving it. Beijing’s manipulation of its currency, the yuan, has been a favorite bogeyman of members of Congress for years — most notably Sens. Charles Schumer, D-N.Y., and Lindsey … – Bing News [...]

[...] We have a trade problem with China. But Georgians will pay dearly if Congress keeps taking the wrong approach to solving it. Beijing’s manipulation of its currency, the yuan, has been a favorite bogeyman of members of Congress for years — most notably Sens. Charles Schumer, D-N.Y., and Lindsey … – Bing News [...]

Junior Samples

October 6th, 2011
10:19 am

So it’s ok to borrow approximately $1.2 Trillion from the Chinese, but then complain about it’s value?

Try that with your bookie.

dixiedemons

October 6th, 2011
10:20 am

You vote to shoot yourself in the foot with a Johnny Reb loaded Congressional delegation and then scream when the bleeding starts.

Junior Samples

October 6th, 2011
10:32 am

Remarkable.
It’s ok to borrow $1.2 trillion from the Chinese, and then complain about it’s value.

Try that with your bank.

Junior Samples

October 6th, 2011
10:33 am

my fault for the double post…

TonyP4

October 6th, 2011
10:34 am

Can we afford to have a trade war with China and take the risk of China pulling out their huge debt from us?

http://tonyp4idea.blogspot.com/2010/03/appreciating-yuan.html

Banned Poster

October 6th, 2011
10:35 am

You want manufacturing to come back to the US? Simple, we need to fix our antiquated tax system to allow those businesses to flourish in this country again. Right now they are over regulated, non-competitive, and taxed out of our own country. They go to China and India because it is cheaper to make these goods and resell them here. Make the cost of production go down and manufacturing will come back. Also on that note, there is nothing wrong with free trade agreements. However, you have ensure that you are competitive with the workplaces of the countries you are trading with. Fixing the tax code and cutting back on over regulation will help. Don’t be dumb and start a trade war with the country that owns the large majority of our debt. That will not have a happy ending.

Banned Poster

October 6th, 2011
10:40 am

Let’s also mention Kyle, that it is the Senate that is pushing this currency bill. Speaker Boehner has come out against the currency bill and I seriously doubt it will get any traction in the House. Not to mention a veto threat from the White House.

lpc1998

October 6th, 2011
10:47 am

Before one alleges that China “manipulates” or “undervalues” the RMB or when one echoes such allegation, one should pause and ask oneself in what ways precisely has China “manipulated” or “undervalued” the RMB, bearing in mind that the RMB is not freely traded in the foreign exchange market. So even if it wanted to, as it is, the Chinese Central Bank cannot buy or sell RMB in the foreign exchange market.

What actually happens is that China has used the dollar for her international trade settlements and investments, reinforcing the dollar’s role as the primary international trade settlement and reserve currency. Because of this, the Chinese Central Bank has to exchange the dollars deposited in the Chinese banks for RMB at a stable rate so that businesses in China that sell products and services in dollars could pay for their expenses in RMB in China.

Do note that the US$-CNY exchange rate on the Mainland (China) is an administrative exchange rate mainly for China’s domestic banking purposes determined at discretion of the Chinese Central Bank. There is absolutely no need to buy or sell the yuan for the dollar in the foreign exchange market to maintain the US$-CNY exchange rate. Anyway, the RMB has “appreciated” more than 30% in real terms since 2005.

The talk that trade surplus MUST lead to higher exchange rate to an even freely traded currency in the foreign exchange market is mythology. This is because all or most currencies traded in the foreign exchange market are fiat currencies without intrinsic values and with infinite supply as they are “printed” by their respective central banks. In other words, central banks could and do print the necessary amount of currencies to maintain the desired exchange rate in the upper range of a traded currency. The exchange rate of a freely traded currency is ultimately determined by supply and demand of that currency in the foreign exchange market and as pointed out earlier on, fiat currencies could have infinite supply. So the allegation that the RMB is undervalued as a result of trade surpluses is based on a mythology. That is why there is no objective way to quantify the precise amount of RMB undervaluation. Any figure for such an undervaluation must necessarily be arbitrary and subjective.

Trade deficit is caused by a deficit of export over import. The US has trade deficits with over 90 countries other than China. The US buys lots of things from China, but refuses to sell many high-value things with dual-use technology to China on national security grounds. As a result, she suffers massive trade deficits with China. The US is not doing her best to sell to China. Do note that countries like Germany, Japan, South Korea and even tiny Singapore are selling proportionally more manufactured goods to China than the US. Taiwan’s export to the Mainland (China) was US$114.78 billion in 2010 enjoying a trade surplus of US$77.2 billion. The US should be supplying lots of the manufactured components these countries or regions are supplying for China’s exports, but she does not even 2 in 3 containers return back to China empty.

Enormous inflows of dollars into China owing to dollar dumping by the dollar holders by means legal or otherwise, have caused huge surges in the increase of China’s foreign currency reserves even during the months when there are trade deficits. In view of the situation, now and in the future, the “floating” of the RMB in the foreign exchange market is inevitable. The root problems holding back the “floating” of the RMB in the foreign exchange market are the market’s present abnormal state with very excessive dollar “printing” compounded by the Eurozone debt crises and the use of the dollar by China as the primary currency for her foreign trade settlements and investments. From the current trend, these problems affecting China would be substantially resolved within the next 10 years. Even with a freely “floating” RMB, China’s trade surplus may continue for a very long period of time as China’s per capita GDP is still around 1/10th of the rich countries which translates into much lower labour, land, environmental and other regulatory costs in China.

Exploiting sinophobia may be irresistible for politicians desperate for votes and harms the country’s relations with China. However, nothing is more damaging to the US economy than to compel China to stop “manipulating” the RMB. When that happens, businesses in China would not be able to accept the dollar as payment for goods sold and services rendered when the Chinese Central Bank stops exchanging the dollars deposited in the Chinese banks for RMB (the act of China “manipulating” the RMB). These businesses need to convert their dollar revenue into RMB to pay for expenses in China.

On that day, the RMB may be traded freely in the foreign change markets as wished for by so many Americans and others and the value of the dollar plummets as the RMB no longer acts as the anchor for the dollar which has already become junk currency because of the very excessive “printing” by the US authority. Together with the rapid loss of value, the dollar would also lose its status as the international trade settlement and reserve currency as nobody would want to hold to an asset that is fast depreciating in value. Businesses which have sold their goods and services in dollars would be wiped out.

When the dollar collapses, the consequences would be global, unprecedented and enormous.

Alex

October 6th, 2011
10:51 am

@Hillbilly D: Agreed, sir, agreed.

Kyle Wingfield

October 6th, 2011
11:00 am

Karl: The very first sentence of the column is, “We have a trade problem with China.” Subsidies are one of them; market access, or lack thereof, is an even bigger one. (What’s the point of subsidies? To beat the competition. What’s an even easier way to beat the competition? Don’t allow it in the first place.) The currency issue is just an easy way for U.S. politicians to deflect attention from their own policy errors.

I don’t see how that qualifies as an “immature libertarian” portrayal.

Kyle Wingfield

October 6th, 2011
11:02 am

Joel @ 6:54: There are other ways to get at it through negotiations — such as the Trans-Pacific Partnership talks. If we and the other major trading nations around the Pacific Rim, excluding China, opt for freer trade by ensuring open market access, China will almost certainly have to follow suit.

Kyle Wingfield

October 6th, 2011
11:03 am

Poor Boy @ 7:07: I don’t think I was making “the case that our large trade deficits with China haven’t hurt the US economy.” I think I was making the case that currency manipulation isn’t the root of the problem(s).

Kyle Wingfield

October 6th, 2011
11:07 am

Lynnie @ 8:56: As Mitt Romney would say, nice try.

I “don’t want to fix any economic problems”? Hardly. I just don’t agree with you that the exchange rate is the problem here. Put another way, I want to fix real economic problems, not the faux ones that just make for good populist politics.

If you think the exchange rate is the problem, why don’t you marshal some actual evidence tying it to the loss of our manufacturing base (which is also a misnomer, because manufacturing production has grown in the U.S.; what hasn’t grown is manufacturing jobs)?

@@

October 6th, 2011
11:10 am

We should just remove the word “fair” from our vocabulary. It’s a relative term anyway.

A trade war with China would produce disadvantages for the poor–higher interest rates and costs. What’s fair about that? Hasn’t the number of impoverished households increased under this administration? Why yes…yes it has.

I’ve always found trade issues difficult to understand. On it’s face (China’s), it would appear things aren’t “fair”. Looking closer, free trade is to our advantage. Best explanation can be found here:

Protectionism and the Destruction of Prosperity

Don’t bother to read it if your attention span is less than that of a two-year old.

It’s our government’s borrowing that puts us at a disadvantage. Perhaps? Nawhhhh! Left-wingers are hungry for government’s “free stuffings”. It’s borrow more to spend more…a destructive cycle.

I do look for products made in America. All of my scrubs are made in America. My canning jars, pressure canner, office supplies. Here’s a shopping guide for those looking to buy American.

http://www.americansworking.com/

====================================

Bookman: For Steve Jobs, it was about the user experience

Yes it was and jay decided to TAKE THAT which Mr. Jobs saw fit to offer me and millions of others. All because he didn’t like what I had to say. jay considers himself ALL POWERFUL against little ol’ me.

schnirt

@@

October 6th, 2011
11:15 am

Perhaps some of our snooty transplants and homegrown leftists would be interested in one of these?

Not likely. We all know “they’re better” than their hillbilly counterparts here in the U.S. of A. They never miss the opportunity to tell us they are.