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China is world's biggest manufacturer |
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Written by Stumo
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Tuesday, 08 January 2008 |
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This Heritage Foundation piece
debunks the World Trade Organization's recent findings that China's
economy is much smaller than we thought. China has actually
passed the U.S. as the world's leading manufacturing economy.
Now that China's manufacturing sector has nosed past the United
States, America's political leaders must begin to contemplate what
China's economy will look like in another five years. It will likely be
half-again bigger than America's industrial sector, giving China the
capacity to assemble the building blocks of a military superpower.
To repeat, China is now bigger than the U.S. in manufacturing.
Right now. Our biggest geopolitical rival - not our enemy, but
our rival.
China had the tools to unilaterally increase its trade surplus and create rocketing economic growth - and they used them.
The
U.S. has the tools to neutralize the unfairness from currency
manipulation, VAT tariffs, foreign subsidies, etc. - and we do not use
them. Someone might call us "protectionist" for neutralizing the
protectionists.
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In the news
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Colorado CPA member Milt Heft has these thoughts on money, wealth and the economy. Heft is the owner of Petrogen, Inc in Colorado Springs.
A few thoughts about manufacturing:
There is a great misunderstanding of the relationship- between money and wealth. The beginning principles with which we can all agree are a few and simple noble truths:
1. Money is meaningless without wealth.
2. Wealth is difficult to distribute without money.
3. Wealth is the reality of the physical things we need to survive and thrive: food, clothing, shelter, ice cream & computers. It is the product of mining, industrial production, and agriculture.
4. Money is anything that make the wheels of production and distribution go round.
5. Money is easy to manufacture and control.
6. Wealth takes a lot of blood, sweat, toil and tears.
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