China a world leader—but at what cost?
It’s no secret that China is a Mecca for producing and exporting cheap goods to the world. But while that may be working for China, it’s not working for the U.S.
The U.S. and China have the highest trade deficit on record, and it has caused a massive loss of production capacity here at home. China’s “best practices” for maintaining its lead in exports include subsidizing its industries, manipulating its currency, and maintaining stringent import and export restrictions.
ReMaking America author Richard McCormack explains what effect those practices have had on the global economy:
Other nations that had massive trade surpluses with the United States followed China’s lead into illegal and mercantilist trade practices. In addition, many countries continued to allow the wanton exploitation of their environment and their workers.
China’s unfair trade practices and its spotty labor conditions sets a bar; as a global export leader, it encourages other countries who export to the U.S. to operate under the same practices. This leads to a compounding cycle of unfair trade practices, and has resulted in millions of lost manufacturing jobs across America.
We must stand up to China and stop these trade practices from skewing the global economy. Fortunately, there are some in Congress who are working on it: There is a bill circulating in the House of Representatives that would punish Beijing for practicing currency manipulation. Please let your representative know that they should be supporting it!
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