WAKE UP AMERICA!!!! Is trading with China "Fair Trade"? Not in the slightest! Last year's trade deficit was $180 billion dollars with China (to clarify that is 180 thousand millions just in one year). By the way... it's been increasing substantially every year. In order to boast these massive trade deficits, we barrow money in the form of government T-bills from the Chinese once again. Thanks to horrible trade practices and an idiotic war in Iraq, we now owe the Chinese over 5 trillion dollars (or 5 thousand billions), which is a substantial portion of our national debt.
Why we shouldn't trade with China under current circumstances:
They export products too cheap for their factories to produce to flood US and other markets to destroy local industries
Their currency is undervalued by approximately half of market value. This means that their exported goods are half as expensive as they should be in US markets (closing domestic industries) and US goods are double as expensive in Chinese markets (less incentive to buy imports in China).
The US rightly has a set of reasonable environmental and safety standards that the Chinese don't have to adhere to making our goods more expensive than theirs. In contrast many other nations adhere to strict environmental and safety regulations.
It costs a lot of energy to transport goods from China. We should be doing everything we can to reduce our trade deficit in oil consumption which is it at $400 billion dollars annually in oil imports.
Everyone is under the impression that we are a rich nation, when in fact we are an indebted nation with a dwindling job market and an increasing population. It's time to support our own country by making every effort to demand American products.
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