I was really surprised to see this very badly considered essay over at lewrockwell.com. I was moved to post the following in reply:
As an importer for 35 years, it is easy to spot Prestowitz’s nonsense. Comparing the dollar amount of what China sells to us (computers) versus the volume (in terms of space taken on a vessel) of what we ship to China (scrap), it sure looks alarming. But it id apples and oranges.
There is no guarantee currency revision will make any changes, when Japan did that in the 60′s and 70s, we ended up buying all the more. Right now USA consumers are benefitting from Chinese policy, and there is no certainty our desires would yield the results intended.
No American has ever lost a job to China: what happens is due to USA govt industrial policy (get big or get out), new jobs are placed in new factories where there will be better stability in the future – China. Those “lost jobs” are not coming back because like buggy whips, we don’t use them anymore.
Overseas the big USA biz can avoid pointless USA regulations and pointless taxation, which at the same time crushes small biz (McDonalds got an exemption to Obamacare). Big biz can launder profits for themselves and pay off USA politicians.
Don’t blame China for fielding smarter politicians and biz people than the USA Hamiltonian system can field. If we want to revive, we have to eliminate the subsidies and protections of USA big biz, roll back regs and taxes, so small biz can lead america back to #1. But our big biz/big govt would rather rule over ruins than serve in freedom.
Don’t expect help from the teaparty or elections, those candidates are all ringers, as you will see within 2 years. The problem is you, yourself, not the Chinese. You can reform yourself.
0 comments:
Post a Comment