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.