China’s currency policies continue to ruffle feathers. Robert E. Scott writes in the Huffington Post that US lawmakers must force China to raise the value of the yuan by 40% so jobs will materialize in America. He claims that China is responsible for 1 million displaced jobs and must be punished economically with high tariffs if they don’t comply.
What he doesn’t mention are the jobs lost to the subprime mortgage crises, which almost sunk GM and Chrysler along with plummeting real estate prices, a storm of bankruptcies and endless foreclosures—not counting the trillions added to the national debt to bail out banks.
He doesn’t mention that more than 10 million US jobs go to illegal immigrants who flood across America’s southern border to work for low wages. He doesn’t mention NAFTA, which took another three million US jobs to Mexico and Canada.
He also doesn’t mention the 20 to 40 million Chinese who lost their jobs and tens of thousands of Chinese factories that closed due to the same subprime mortgage crises that was caused by US Wall Street banking greed and lax government oversight when G. W. Bush was president.
My question is, “Mr. Scott, why are you making China the lone goat for America’s debt crises and job losses?”
Why not mention all the other low wage countries that manufacture products sold in the US—the list is long. I bought something made in Haiti recently, and it wasn’t art. Does that mean someone in Haiti took a job from someone in the US?
Why not ask Americans to stop buying iPods, iPads, Macintosh, Dell, and HP since most of these products are assembled or manufactured in China or other low wage countries.
Why not ask Americans to stop buying from the likes of Wal-Mart or mention how many Americans have jobs because of high-end American products that Chinese consumers buy.
Award winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too.
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