Mr. Romney has made "stand up to China" a sound bite for his campaign. We've all heard it, and few of us would disagree with the sentiment. When America needs to place economic blame, China immediately comes to mind .
But how can this be accomplished ? Any ideas ? Trade restrictions ? Import taxes ? Embargo's ? Mitt isn't providing any details on the methods he plans on using to "stand up". And so it set me to thinking........
It's accepted that we buy more from China than they buy from us. But they DO buy from us. Billions every month, according to the U.S. Dept. of Commerce.
Experts agree that any attempt we make at restriction or prohibitions aimed at China will be met with in a manner that guarantees retaliation. And retaliation will further cripple our economy. Make absolutely no mistake: We must export to China. We depend on their markets. Just ask the large American farm industry. Of course, there's a deficit. About 30 billion more from them than to them each month. Still, we've shipped over 8 billion a month to them just in August of this year.
So, again, how do we get tough ? The truth is, we don't. I don't, and most likely, neither do you. We all go to Wal-Mart. We buy Hanes and Fruit-of-the-Loom and Levis' and outdoor chairs and lawnmower blades and snow shovels and electrical cords and everything else we can get our hands on that we need. We buy U.S. brand names made with Chinese components. Like your new V-6 Buick ? Engine completely manufactured and assembled in China. The list goes on and on, and the more you look, the more you say "jeez, it's endless". And it is. Heck, even my beloved Harley-Davidson, a symbol of America, is loaded with Chinese and Japanese components. Sacrilege !
And back to Mr. Romney. His investments made him 22 million, give or take, last year. Investments made in corporations doing business all over the world, I would imagine. Just like mine, only on a much (MUCH) larger scale. Corporations run by various Boards and answering ultimately to shareholders. Like me. And Mr. Romney. And we, as shareholders DEMAND PROFITS. 'We invest in your company for profit, and we expect it each and every quarter. You like that high dollar position on the Board, buddy ? Then you better see to it that we get dividends.'
And you know very well how the rest has gone in recent years.......
The accepted way to slash costs and increase profits.....close facilities in the U.S. and take production to the Pacific rim, mostly China. Cheaper costs equals higher profits. Name a big corporation. GE, GM, Apple, IBM, Hewlett-Packard, LL Bean, Mattel, etc. Just try to find one that doesn't have manufacturing in China.
Is all this bad for America ? Depends on who you ask. The guy looking for work who lost his job due to offshore outsourcing will say it's just plain wrong on every level.
Ask Mitt Romney and he may think differently, given how he makes his income. Without these "ship it to China" business practices, Mr. Romney's investments could not have been so lucrative as to provide such an annual income.
Seems like a conflict of interest to me.
I will venture that every person has an opinion on this issue. And most clear headed folks will look at the reality of this and admit that there's just no easy solution, if there is one at all.
I doubt we've heard Mr. Romney's honest opinion, though.
JOB CREATOR RECORD: During the nearly 15 years that Romney was actively involved in running Bain, a private equity firm that he founded, it owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components, according to filings with the Securities and Exchange Commission. As Govenor, he even OUTSOURCED jobs to India! WHATS NEW? Bain Capital is CLOSING a PLANT in Freemont, Il on November 5th, one day before the election. Does he care that American Workers are about to lose their jobs? Nope, Bain Management is having the American Workers TRAIN thier Chinese counter parts for THIER Jobs! Tough on China? Really? Mitt Romney’s financial company, Bain Capital, invested in a series of firms that specialized in relocating jobs done by American workers to new facilities in low-wage countries like China and India. Hmmmm...We better think TWICE before voting to put another Republican in office, who clearly does NOT have the best interest of the majority of the American people. Remember...who their backers are...Big Oil and Corporate Donors with their hand out!
Mr. Romney also has millions invested in a series of Bain funds that have a controlling stake in Sensata Technologies, a manufacturer of sensors and controls for vehicles, aircraft and electric motors that employs 4,000 workers in China. Since Bain took over the operation in 2006, its investment has quadrupled in value. Bain continues to own $2.6 billion worth of Sensata’s shares. Two years ago, Sensata bought an operation that made automobile sensors in Freeport, Ill. At the first meeting with the plant’s 170 workers, Sensata managers announced that by the end of 2012 all the equipment and jobs would be relocated, mostly to Jiangsu Province. Workers have staged demonstrations, pleading for Mr. Romney to intervene on their behalf. Chinese engineers, flown to Freeport for training on the equipment, described their salaries as a pittance compared with Freeport wages. “This goes to show the unbelievable hypocrisy of this man,” he said of Mr. Romney. “He talks about how we need to get tough on China and stop China from taking our jobs, and then he is making money off shipping our jobs there.” In the case of Sensata, however, Romney cannot deny the fact that in 2010 and 2011, according to his tax returns, Romney reported a charitable donation of $405,000 in Sensata stock that he received as “partnership distributions”
I am so tired of hearing about the "job creators". Here is a secret; businesses, especially mega corporations, are NOT job creators! Consumers are. Without them no business would hire, with them they must. The problem is that the consumers do not have any money to spend. Most of the money, and more each day, is being held at the top out of the hands of the consumer. Wonder why your small business is doing poorly? It's not because of teachers and safety personnel. Big business has you convinced they are on your side. They liquidate companies and ship them over seas which is good business for them but hurts you. Until we have regulations and taxes to encourage companies to give raises and benefits to workers instead of hording all the profits for shareholders, small business will continue to tank will wall street and the 1% thrive. The consumer
Let me ask this how many Apple users want us to stand up to China? Isn't that where all of the iphones and ipads are made? Apple reported record profits and everyone is still buying their made in china products. I'm sure for a little less profit Apple could make stuff here right.....how come you or Obama doesn't attack them?? Because Obama owns Apple stock. He supports outsourcing Apple jobs to China too.
BTW, I like a real tree and buy one each year. We make a family day of it. Family still matters.
And just like you found a fun alternative to fake imported trees, you can make it a family "adventure" to find alternatives to imprted goods.
Would it be awesome if America made all of the stuff again especially APPLE stuff? Of course but like you said its unrealistic....although it seems that foreign car companies have found a way to locate here while bailed out Chrysler is moving to italy and making jeeps in china.
Hypocritical and/or stupid much? Or just when posting here?
Obama Leads in Ohio, 50 percent to 45 percent Romney Ohioans who early voted, 60 percent voted Obama, 34 percent voted Romney. 96 percent of Ohio voters who haven’t voted, their minds are made up on voting choice. Ohioans have a higher unfavorable (48 percent) rating than favorable rating (46 percent) for Romney. In contrast, Obama has higher favorable than unfavorable rating. http://www.nytimes.com/interactive/2012/10/31/us/politics/31poll-results-documents.html I believe that Romney’s lies in his false Jeep ad aren’t helping his favorability or his desperate and dying campaign! NBC-TV's Tom Brokaw called that ad "dead wrong" this morning (Oct. 31).
http://cuyahogafalls.patch.com/events/early-voting-for-general-election
Please do a little more research, rather than listening to the ads on T.V. Jeep is not moving their manufacturing to China.. http://thecaucus.blogs.nytimes.com/2012/10/30/chrysler-ceo-jeep-production-isnt-moving-to-china/ and the Romney campaign has been criticized for spreading this misinformation.. Believing T.V. political ads, from either side, is like listening to the shake weight commercial and thinking your gonna loose weight.
http://uspolitics.einnews.com/article/119995684?url=%2Fnews%2Fgac-fiat
P.S. I couldnt read you post because I dont have a subscription to that site.
then you say >>>>>They are having talks about opening a plant in China, make up your mind
I default to my second comment >> did you read the article>>>>> Moving ALL manufacturing to China, which is what people infer from Romney's bogus add, and opening a NEW plant in China are two completely different things.. Murphy-Solon: I couldn't have said it better.. People think any expansion of business is 'bad' business. China is the new 'Communist' threat, reminiscent of Russia in the 60's and 70's, that the Republican party uses to scare voters.
I default to my first comment, Believing T.V. political ads, from either side, is like listening to the shake weight commercial and thinking your gonna loose weight. Here's a free tip, do a little research. If you did you would be appalled by these commercials. They are half truths and misleading..