President Obama Will Be Going to China
Posted by scapozzola on 11/10/2009
President Obama will be visiting China from Nov. 15-18 for discussions that include such thorny issues as trade agreements and climate change. This may be a contentious meeting, with China recently voicing concern over U.S. trade measures. Ironically, China has been "deflecting criticism" lately of its own mercantilist trade practices.
There's much to discuss though, and ManufactureThis humbly submits that China is the guilty party. Some of the key U.S.-China problems facing President Obama include:
-Massive, ongoing subsidies for China's steel and glass producers;
-A huge bilateral trade imbalance, which has reached 83% of our non-oil goods trade balance;
-Ongoing, currency manipulation that distorts world markets;
Last Friday, the Commerce Department released figures showing the U.S. unemployment rate rising to 10.2% in October, with the manufacturing sector alone losing 61,000 jobs.
Simultaneously, controversy has arisen over the use of stimulus funds to purchase Chinese-made wind turbines. As AAM's Scott Paul noted in a letter to President Obama, these turbines can be built in the U.S., and, as such, the U.S. should be investing heavily in domestic clean energy manufacturing.
The U.S. must achieve more balanced trade with China, however. The nation is hemorrhaging manufacturing jobs, and a key way to stop the bleeding is to squarely address China's dumping, subsidies, and illegal currency manipulation.
This post has 1 comment •
Add a comment
1 comment
Related recent Blogs
- June 12, 2013 Headlines: The strain that surveillance has on trade deals, confidence in the job market, and more. • by LRaup • 06/12/2013
- June 10, 2013 Headlines: U.S.-China California summit, slow growth in the U.S. economy, and more. • by LRaup • 06/10/2013
- Why you should be keeping close watch on President Obama's meeting with China's President Xi Jinping. • by LDonia • 06/07/2013
- Senate Introduces Bipartisan Currency Legislation: Statement from Alliance for American Manufacturing (AAM). • by scapozzola • 06/05/2013
- Will President Obama Get Tough with China's President Xi? • by scapozzola • 06/03/2013
- June 3, 2013 Headlines: Obama's plan to tallk it out, May manufacturing numbers, and more. • by LRaup • 06/03/2013
- May 31, 2013 Headlines: A Make It In America campaign, adding currency to the TPP, and more. • by LRaup • 05/31/2013
- May 24, 2013 Headlines: U.S.-EU trade deal exemptions, investing in U.S. manufacturing, and more. • by LRaup • 05/24/2013
- May 20, 2013 Headlines: Manufacturing & social media, growth of the U.S. economy, and more. • by LRaup • 05/20/2013
- May 16, 2013 Headlines: factory collapses in Cambodia, U.S. retail industry dismisses plan for safer working conditions, & more • by LDonia • 05/16/2013
As I document on my blog at
As I document on my blog at www.ProudlyMadeInAmerica.com, China is guilty party. China puts in a stimulus plan which increases their steel production by over 40% at a time when the world is using less steel. Then they dump those products on the world market and pretend they did nothing wrong. The thing that makes me sick about all this is that it is our dollars that is funding China's ability to do what they are doing.