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rdean
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And another half million this year alone. And not just those jobs, but also all the industries that support those jobs, which of course, is millions more jobs.
China also violates international regulations by limiting export of material vital for green technology. China accounts for 93 percent of the worlds production of rare-earth elements like dysprosium and terbium that are essential for green technology. Over the past several years, China has increasingly restricted their export. That practice, illegal under WTO rules, forces some foreign companies to transfer manufacturing to China to gain access to these rare-earth elements. (Those same rare earths are essential to our military. China could cripple our military for years.)
Then American jobs are lost.
When those corporations move, China routinely and illegally mandates they transfer technology to their new Chinese partners. That often means research and development that was financed by U.S. taxpayers benefits China.
Then American investment and technology is lost.
The New York Times has repeatedly pointed out Chinese trade violations. Reporter Keith Bradsher described them at length in a story Sept. 8, titled On Clean Energy, China Skirts Rules.
Bradsher itemizes the illegal aid given to one green-energy company, Hunan Sunzone Optoelectronics, a two-year old solar-panel manufacturer that exports nearly 95 percent of its products to Europe and is pushing into the U.S. market with three new sales offices across the country. Chinas improper support for Sunzone included turning over land to the company for a third of its market price. And it included government-controlled banks providing low-interest loans that the provincial government has promised to help Sunzone repay. Bradsher notes that this kind of aid in Chinas government-controlled economy is typical.
But it means companies trying to manufacture in free-market countries cant compete.
Jobs Insight - Clean Edge - The Clean-Tech Market Authority
Aid to China from individual donor countries averaged $2.6 billion a year in 2007-2008, according to the latest figures available from the Organization for Economic Cooperation and Development.
Experts say it's hard to justify giving aid to China when it spent an estimated $100 billion last year equipping and training the world's largest army and also holds $2.5 trillion in foreign reserves. (That's right, we give "poverty aid" to China)
China's Currency Manipulation Makes America See Red | The Economic Populist
One of the most odious current economic fiction is claiming unemployment is structural, a nice way of hiding the insult Americans are just too fat, lazy and stupid to do the jobs of tomorrow. This is a complete discriminatory, disgusting falsehood to the American people and also factually false. We have millions, literally millions of highly skilled and educated people needing a job right now. It is global labor arbitrage at play, not the quality of the American worker. The reality is when need to confront a host of policies which enable global labor arbitrage and are destroying the U.S. middle class. The structural issue is trade and other policies, not the U.S. worker and their skill sets.
But the Chinese government has counteracted that pressure by increasing the supply of yuan and snapping up dollars. By the end of June, it held more than $2.5 trillion in its foreign exchange reserves. By keeping the value of the yuan low relative to the dollar, it has helped Chinese manufacturers maintain their price advantage over U.S. companies. The policy also has hurt U.S. exports by reducing the buying power of the yuan, at least where foreign goods are concerned. In short, China's efforts violate a fundamental principle of international trade law, which aims to stop governments from tipping the trading scales.
Challenging China on tradeThe House approves a bill that would allow manufacturers in the U.S. to seek punitive tariffs on imports from any country whose currency was deliberately undervalued by 5% or more. - Los Angeles Times
China also violates international regulations by limiting export of material vital for green technology. China accounts for 93 percent of the worlds production of rare-earth elements like dysprosium and terbium that are essential for green technology. Over the past several years, China has increasingly restricted their export. That practice, illegal under WTO rules, forces some foreign companies to transfer manufacturing to China to gain access to these rare-earth elements. (Those same rare earths are essential to our military. China could cripple our military for years.)
Then American jobs are lost.
When those corporations move, China routinely and illegally mandates they transfer technology to their new Chinese partners. That often means research and development that was financed by U.S. taxpayers benefits China.
Then American investment and technology is lost.
The New York Times has repeatedly pointed out Chinese trade violations. Reporter Keith Bradsher described them at length in a story Sept. 8, titled On Clean Energy, China Skirts Rules.
Bradsher itemizes the illegal aid given to one green-energy company, Hunan Sunzone Optoelectronics, a two-year old solar-panel manufacturer that exports nearly 95 percent of its products to Europe and is pushing into the U.S. market with three new sales offices across the country. Chinas improper support for Sunzone included turning over land to the company for a third of its market price. And it included government-controlled banks providing low-interest loans that the provincial government has promised to help Sunzone repay. Bradsher notes that this kind of aid in Chinas government-controlled economy is typical.
But it means companies trying to manufacture in free-market countries cant compete.
Jobs Insight - Clean Edge - The Clean-Tech Market Authority
Aid to China from individual donor countries averaged $2.6 billion a year in 2007-2008, according to the latest figures available from the Organization for Economic Cooperation and Development.
Experts say it's hard to justify giving aid to China when it spent an estimated $100 billion last year equipping and training the world's largest army and also holds $2.5 trillion in foreign reserves. (That's right, we give "poverty aid" to China)
China's Currency Manipulation Makes America See Red | The Economic Populist
One of the most odious current economic fiction is claiming unemployment is structural, a nice way of hiding the insult Americans are just too fat, lazy and stupid to do the jobs of tomorrow. This is a complete discriminatory, disgusting falsehood to the American people and also factually false. We have millions, literally millions of highly skilled and educated people needing a job right now. It is global labor arbitrage at play, not the quality of the American worker. The reality is when need to confront a host of policies which enable global labor arbitrage and are destroying the U.S. middle class. The structural issue is trade and other policies, not the U.S. worker and their skill sets.
But the Chinese government has counteracted that pressure by increasing the supply of yuan and snapping up dollars. By the end of June, it held more than $2.5 trillion in its foreign exchange reserves. By keeping the value of the yuan low relative to the dollar, it has helped Chinese manufacturers maintain their price advantage over U.S. companies. The policy also has hurt U.S. exports by reducing the buying power of the yuan, at least where foreign goods are concerned. In short, China's efforts violate a fundamental principle of international trade law, which aims to stop governments from tipping the trading scales.
Challenging China on tradeThe House approves a bill that would allow manufacturers in the U.S. to seek punitive tariffs on imports from any country whose currency was deliberately undervalued by 5% or more. - Los Angeles Times
