How China unfairly bests the U.S.

How China unfairly bests the U.S.
China's manufacturing advantage over the U.S. is actually due to a complex array of unfair trade practices, all of which are illegal under free-trade rules.

By Peter Navarro

June 21, 2011
The American economy has been in trouble for more than a decade, and no amount of right-wing tax cuts or left-wing fiscal stimuli will solve the primary structural problem underpinning our slow growth and high unemployment. That problem is a massive, persistent trade deficit — most of it with China — that cuts the number of jobs created by nearly the number we need to keep America fully employed.

To understand why huge U.S. trade deficits represent the taproot of the nation's economic woes, it's crucial to understand that four factors drive our gross domestic product: consumption, business investment, government spending and net exports. This discussion focuses on net exports.
Net exports represent the difference between how much we export and import. A trade deficit means net exports are negative, and that directly reduces both the GDP growth rate and rate of job creation.

America's trade deficit is costing us close to 1% of GDP growth a year at a loss of almost 1 million jobs annually. That's millions of jobs we have failed to create over the last decade; and if we had those jobs now, we wouldn't see continuing high unemployment numbers, padlocked houses under foreclosure and empty factories pushing up weeds.

It follows that if we want to get America back to work, we need to sharply reduce our trade deficit. As a statistical matter, that means sharply reducing our trade deficit with China.

more:
http://www.latimes.com/news/opinion/commentary/la-oe-navarro-trade-china-20110621,0,1648754.story

I own a small company that imports and exports. Despite the administration's ridiculous assertions otherwise, China cheats.

This is widely known as are the disasterous consequences for the US. But US politicians are beholden to Wall Street and the companies that import from China, so nothing not only gets done to rectify the situation. In fact, they now simply lie about it.

we get choreographed stage show presentations by all politicians for the masses about how much they are worried and care about the masses, but anyone paying vaguely attention should know it's a bunch of BS as we continue to wallow in this recession/depression.

And this will continue, because "we the people" are of little importance in today's America. The writing is all over the walls and hopefully more Americans are figuring out what is going on, stopping paying attention to the lame MSM and figuring out things from other sources. This is an extremely propagandized naive nation.

It doesn't have to be this way, but those on the take are getting huge profits and anyone thinking they're worried about the masses really needs to get their head together.

I get the Africa channel on cable and they were profiling entrepreneurs, one with a business making beads. Even she was complaining about the cheap competition from China. It made me realize that China is doing some serious monetary manipulation.

... the blatant piracy of America's technologies and trade secrets; the counterfeiting of valuable brand names like Nike and Chevy; a cleverly manipulated and grossly undervalued currency; and the forced transfer of the technology of any American company wishing to operate on Chinese soil or sell into the Chinese market.

That a product made in China also comes with a counterfit version.

my old job in the AV industry, it was known and almost a rule of thumb.
there was ONE AV show in china, ONE....
the night before the opening of the show some chinese business men got in.
the next day there was a booth showing freshly manufactured knock offs.

if you do business in china, kiss your precious patent/trademark goodbye

There are virtually no quality made goods from China. In contrast to the Japanese goods like Sony television which were of the highest quality.

Obama is never wrong! If he is, it is because his heart is in the right place and the evil Congress won't let him do the right thing. :sarcasm:

Oh, sorry. I must have nodded off at my computer. Free trade is destroying our country and Obama is enthusiatically cheering it on. His version of burning down the village to save it.