The Wall Street Journal pooh-poohs the issue of U.S. Olympic athletes wearing Ralph Loren uniforms made in China. In a long article called “Does It Matter China Made the U.S. Olympic Uniforms?”, the US Chamber chimes in…
“Across the business community there’s a recognition that we need to talk about trade in a more sophisticated way—that global value chains can’t be boiled down to three words: ‘Made in China’ or ‘Made in America,’” says John Murphy of the U.S. Chamber of Commerce.
That’s the attitude that got us into this mess, and prevents us from getting out. The Chinese interest is gaining more and more of the value chain in many industries. They’re doing it and are not shy about it.
The U.S. interest is in maintaining and building more and more of the value chain in many industries here. To employ people and build wealth. We are not doing it, and suffer the consequences. The WSJ and US Chamber are part of the problem.