Are You Better Off Now Than Four Years Ago?

Discussion in 'The Fire For Effect and Totally Politically Incorr' started by montezumaz, Oct 20, 2012.

  1. montezumaz

    montezumaz Former Guest

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    70% of Chinese Say They Are Better Off Now
    http://www.breitbart.com/Big-Peace/2012/10/19/70-Of-Chinese-Say-They-Are-Better-Off-Now

    Indeed, the Obama years have been a boon to China economically. Specifically, China has benefited from President Obama’s weakness on leveling the trade deficit and cracking down on Chinese currency manipulation. First, Mr. Obama has failed to make good on his promises to equalize the Chinese-American trade deficit. Chinese exports to America are up and climbing. In September, Chinese exports leapt another 5.5% from the previous year. Why does that matter? Jobs. From 2001 to 2011, America's trade deficit with China killed or displaced over 2.7 million U.S. jobs, 76.9 percent of which came from manufacturing. And 662,100 of those jobs were lost from 2008 to 2011... even though Chinese imports dropped when Mr. Obama entered office in 2009. Second, Obama has failed to crack down on Chinese currency manipulation. By artificially lowering the value of its currency, Chinese companies bidding on projects can quote lower prices than their American competitors. That means fewer jobs for the U.S. and more outsourcing to China. - Wynton Hall
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