Berkeley CSUA MOTD:Entry 25354
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2025/07/08 [General] UID:1000 Activity:popular
7/8     

2002/7/14-15 [Politics/Foreign/Asia/China, Finance/Investment] UID:25354 Activity:moderate
7/13    Be glad you're not today's children...
        http://www.vdare.com/roberts/no_think.htm
        \_ guys like this exist at all points on the political spectrum:
           they spout off about how bad everything is while doing nothing
           to help and posing no possible solutions.  this country has
           many dire problems, but it has *no* problems that will
           every be solved by blowhard pundits(except for providing income
           for said pundits.)
        \_ it should have been Mao saying we'd sell them the rope to hang us
           with.
2025/07/08 [General] UID:1000 Activity:popular
7/8     

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Cache (2413 bytes)
www.vdare.com/roberts/no_think.htm
April 23, 2002 Trade Dogma And The No-think Nation By 16 Paul Craig Roberts First in a series on America's imperiled future. It is a change of which the population--especially the "experts"--are unaware. Because of past success, Americans live in a smug no-think world. This is the first in a series of columns about Americans' no-think smugness in an effort to alert Americans to their true prospects. Bartlett is offering an Enron/Arthur Andersen view of trade. A country's trade profile resides in its net exports, not in the gross figures Mr. The net result is a $53 billion trade deficit in manufactured goods and a $3 billion surplus in agricultural goods. A large trade deficit in manufactured goods and a surplus in agricultural goods is the profile of a third world colony. Such goods are counted as "exports" because they cross national borders. It is illegal for "in bond" goods to enter the Mexican economy. Another misconception is that China's economy is a gigantic sweatshop, cheap labor but low tech. According to the 24 Financial Times (April 19), this comforting view is out of date. The rapid shift of manufacturing to China by multinational firms has taken research and development with it. This month Emerson Electric announced that it is moving at least half of its engineering work to China and India by the end of this year. Matsushita has opened a R&D lab in China that will employ 1,750 Chinese engineers within a few years. Nomura is shifting software projects to China and will soon be employing 1,000 Chinese engineers. For its new chip development center, Toshiba is hiring 1,000 Chinese engineers. Hitachi, Sony, Pioneer, Fujitsu, NEC, Honda and Yamaha have announced plans for R&D operations in China. When these facts are mentioned, free traders have a 26 knee-jerk reaction and rush to the defense of free trade, while excoriating the messenger. However, we are not confronted with phenomena that fit the free trade vs. Free traders, forgetting that consumers have to work in order to consume, think everything is fine as long as consumers are paying lower prices. The lost manufacturing and high tech jobs are being replaced with low productivity retailing jobs. Paul Craig Roberts is the author of 28 The Tyranny of Good Intentions : How Prosecutors and Bureaucrats Are Trampling the Constitution in the Name of Justice. We are supported by generous donations from our readers.