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China: U.S. is protectionist |
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Written by Stumo
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Friday, 24 August 2007 |
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hyopocricy:
Pronunciation: hi-'pä-kra-sE
Etymology:
Middle English ypocrisie, from Anglo-French, from Late Latin
hypocrisis, from Greek hypokrisis act of playing a part on the stage,
hypocrisy, from hypokrinesthai to answer, act on the stag
Definition: the false assumption of an appearance of virtue
Merriam Webster Dictionary
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China's defense is offense. Never mind that country's
currency manipulation causing a government-enforced, economy wide trade
advantage of 40%. Never mind their economy-wide export subsidy
program called the value added tax export rebate, which gives another
17% trade advantage. The U.S. is at fault for failing to allow more high tech exports to China, otherwise we would not have a trade deficit. That is U.S. protectionism, they say.
Does anyone really believe this? China already gets more U.S. sensitive military and industrial technology through espionage than any other country. Don't believe me, believe FBI Director Robert S. Mueller III, and other counter intelligence experts.
I
suppose that if we allowed free trade and access to our defense
technology, they would buy more. And would not have to spend all
that money on surreptitious means.
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In the news
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The following, written by Professor Ralph Gomory of New York University's Stern School of Business and former President of the Alfred P. Sloan Foundation, appeared in the Huffington Post on December 16, 2008 and can be accessed here.
Autopia: A Tale of Two Bailouts
Many Americans are struggling to understand how our government makes decisions on corporate bailouts. When Wall Street companies spent years investing in mortgages that turned out, essentially, to be garbage, the government rushed to bail them out. But when the auto companies neared a similar fate, the government was prepared to stand by and let them perish.
To aid in understanding this situation, it is helpful to look at an example from a galaxy far, far away.
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