In the day-to-day news about trade problems with China the bigger picture can get lost. America is giving up its competitive position in industries of the present and future and it is costing us. more »
The House Ways and Means Committee just approved a bill that pushes China to raise the value of its currency. It looks like the bill will go to a vote on the House floor next week. This is a very big deal because it is a "second front" pushing China to bring its currency to market rates. more »
As President Obama meets with Chinese Premier Wen, the House Ways and Means Committee announces it will vote tomorrow on a bill to take action if China does not bring its currency to market rates. This sends a loud and clear signal to China that action is coming, one way or another, and they are going to have to make adjustments. more »
Chinese Premier Wen Jiabao will be in New York this week to attend the United Nations General Assembly. Reuters reports that Press Secretary Gibbs said in the White House briefing today that the President will meet with him tomorrow and will bring up the problem of China's manipulation of currency. more »
Today the US Trade Representative (USTR) Ron Kirk filed two complaints with the World Trade Organization (WTO). The first alleges that China is keeping American credit and debit card companies out of their electronic payment market. The second is a "dumping" (selling under cost) complaint on steel products. more »
Since China joined the World Trade Organization (WTO) our country's balance of trade has gotten worse and worse and we have lost jobs and jobs (and money and money). Between 2001 and 2008 we lost 2.4 million jobs just to China. more »
huffingtonpost.com — Protectionism's first American theorist was Alexander Hamilton -- the man on the $10 bill, the first Treasury Secretary, and America's first technocrat. As aide-de-camp to General Washington during the Revolution, he had seen the U.S. nearly lose due to lack of capacity to manufacture weapons. (France rescued us with 80,000 muskets and other war materiel.) He worried that Britain's lead in manufacturing would remain entrenched, condemning the United States to being a producer of agricultural products and raw materials.
Charlie Brown (us) has again run up to kick the football. Lucy (China) has again pulled the football away at the last minute. The result? The trade gap continues to grow and tis eats away at our jobs and our GDP: "...the worsening trade deficit cut the Q2 GDP growth rate by -2.8%." more »
The rest of the world is realizing that extracting and burning fossil fuels as their main energy source is not a good, safe, sustainable and cost-effective approach, and is starting a transition to alternatives. more »
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