Donald Trump tells me we’re getting hosed by the Chinese — and that we’ve done it with our eyes wide shut.
[Reposted from The Daily News | Linda Stasi | August 25, 2015]
On the phone Tuesday, I asked the Republican way-out-front-runner about China, whose tanking economy caused a near-disaster on Wall Street on Monday and whose economic hold on the U.S. — and the world — will continue to cause international markets to roller-coaster.
“What China has done to America?” he raged. “The money and the jobs they’ve taken from us? It is the greatest single theft in the history of the United States.”
In other words, China is to the United States as Bernie Madoff is to investors.
“And Japan is almost as bad,” he stormed. “Japan sells us millions of cars — and we sell them wheat!
“I’ve been saying for years that China would take us down. Why? Because our leaders are stupid and China’s leaders are smart. They sell to us, no taxes, no nothing. We sell them 10% of what they sell us. Ninety percent to 10%! It’s crazy. Our trade deficit with China is like having a business that continues to lose money every single year. Who would do business like that?”
Answer: The U.S. government? And Bubba.
When Bill Clinton was President, he pushed the entrance of China into the World Trade Organization, predicting that China would “increase U.S. jobs and reduce our trade deficit.” No wonder Bubba’s also called “President Outsource.”
Somehow, the opposite happened. According to the Economic Policy Institute, between 2001 and 2013, the trade deficit with China “eliminated or displaced 3.2 million U.S. jobs, 2.4 million of which were in manufacturing. These lost manufacturing jobs account for about two-thirds of all U.S. manufacturing jobs lost or displaced . . .”
That doesn’t mean Trump hasn’t profited from deals with China, too — big-time. And won’t in the future. Maybe he’ll hire the Chinese to build his wall. Nobody builds better, er, Great Walls.
Despite his deals and their walls, Trump still can’t believe that “China makes (U.S.) companies give up their rights to technology (if they manufacture the goods). It’s unbelievable! You have to give up your secrets!”
Of course, being forced to give up secrets is no longer necessary because China already hacked the U.S. government back in June.
Chinese hackers stole the Social Security numbers and other private information of government employees and others (military contractors) who’d undergone background checks for security clearances. That’s 21.5 million of us — or 7% of America!
But we’re also to blame for giving the country away willingly. Why do U.S. manufacturers need to make 1,000% profit by outsourcing to China, India, and Mexico — to name just three? And why do we continue to buy chicken, pork and other U.S.-grown products that are then processed in China and sent back? It’s sickening.
Maybe that’s also why Americans now need to buy 72 rolls of toilet paper at a time — at Costco.