It is troubling to hear televised discussion about a possible trade war between the United States and China as though a dynamic trade war has not existed for decades. Under our government’s supply-side trade and economic policy the U.S. is the willing and abetting loser, in favor of importing and outsourcing.
If you visit Shanghai, China, you can quaff coffee at the world’s largest Starbucks and ride the 350km/h Maglev to Beijing. The parks are beautiful, shops bustling with many choices. Negative air quality readings in Shanghai and Beijing dwarf those of Los Angeles. However, things appear better than ever for the Chinese people.
China levies tariffs and taxes on imports. Research and development is attached to foreign, domestic manufacturing agreements. They “dump” excessive production, manipulate currency valuation and subsidize to stimulate exports. Foreigners cannot own property.
Japan also has a predatory non-reciprocal trade policy.
Bernie Madoff was chairman of NASDAQ and surely embraced this subversive trade scheme. Crippling the major source of our national revenue by inundating American incomes to benefit the few, is voodoo economics! This system’s dependence on exotic borrowing and extreme perpetual deficit spending, is akin to a massive Ponzi scheme.
Those who support this import policy should reconsider where our manufacturing dependence, colonization and chronic yearly compounded trillions in national debt is leading, before the advent of our next Great Depression.
Louis L. Boehm