Winehole23
02-22-2016, 10:24 AM
Republican hawks are aflutter today over China’s installation of anti-aircraft missiles on Woody Island in the South China Sea.
But do these Republicans, good free-traders all, realize their own indispensable role in converting an indigent China into the mighty and menacing power that seeks to push us out of Asia?
Last year, China ran up the largest trade surplus in history, at our expense, $365 billion. We exported $116 billion in goods to China. China exported $482 billion worth of goods to us. Using Census Bureau statistics, Terry Jeffrey of CNSNEWS.com documents how Beijing has, over decades, looted and carted off the greatest manufacturing base the world had ever seen.
In 1985, China’s trade surplus with us was a paltry $6 million. By 1992, when some of us were being denounced as “protectionists” for raising the issue, the U.S. trade deficit with China had crossed the $10 billion mark. In 2002, it crossed the $100 billion mark. In 2005, the $200 billion mark. In each of the last four years, Communist China has run an annual trade surplus at the expense of the United States in excess of $300 billion.
Total trade deficits with China in the Bush-Clinton-Bush-Obama era? $4 trillion. Total U.S. trade deficit in 2015—$736 billion, 4 percent of our GDP.
To understand why Detroit looks as it does, while the desolate Shanghai Richard Nixon visited in ’72 is the great and gleaming metropolis of 2016, look to our trade deficits. They also help explain America’s 2 percent growth, her deindustrialization, her shrinking share of the world economy, and the stagnation of U.S. wages as manufacturing jobs are replaced by service jobs.
http://www.theamericanconservative.com/buchanan/when-will-the-gop-defend-economic-patriotism/
But do these Republicans, good free-traders all, realize their own indispensable role in converting an indigent China into the mighty and menacing power that seeks to push us out of Asia?
Last year, China ran up the largest trade surplus in history, at our expense, $365 billion. We exported $116 billion in goods to China. China exported $482 billion worth of goods to us. Using Census Bureau statistics, Terry Jeffrey of CNSNEWS.com documents how Beijing has, over decades, looted and carted off the greatest manufacturing base the world had ever seen.
In 1985, China’s trade surplus with us was a paltry $6 million. By 1992, when some of us were being denounced as “protectionists” for raising the issue, the U.S. trade deficit with China had crossed the $10 billion mark. In 2002, it crossed the $100 billion mark. In 2005, the $200 billion mark. In each of the last four years, Communist China has run an annual trade surplus at the expense of the United States in excess of $300 billion.
Total trade deficits with China in the Bush-Clinton-Bush-Obama era? $4 trillion. Total U.S. trade deficit in 2015—$736 billion, 4 percent of our GDP.
To understand why Detroit looks as it does, while the desolate Shanghai Richard Nixon visited in ’72 is the great and gleaming metropolis of 2016, look to our trade deficits. They also help explain America’s 2 percent growth, her deindustrialization, her shrinking share of the world economy, and the stagnation of U.S. wages as manufacturing jobs are replaced by service jobs.
http://www.theamericanconservative.com/buchanan/when-will-the-gop-defend-economic-patriotism/