China summit: Let trade BE trade

posted by
May 5, 2011
Our Future Blog
by Dave Johnson  
Posted in Commentary, PND Commentary

"Since China’s admission into the World Trade Organization we have been packing up our factories and sending them over there. We have been buying so many things made in China, but they have not been buying very many things made here, and the resulting 'trade deficit' has gotten worse year after year. Everyone is afraid of what China might do with all those trillion$ in US Bonds they have accumulated. ... There is a better way to solve the problem: let trade BE trade. Trade is supposed to be about trading. It is not supposed to just be a scheme to drive wages and living standards down by packing up factories and moving them across borders." [editor's note: Every so often, progressives can sound almost like libertarians; this issue is one of them - SAT] (05/05/11)  

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