Originally posted by: Shagger
Originally posted by: K1052
Originally posted by: Amused
Originally posted by: Shagger
Originally posted by: PCmaker
Many Small communities in America depend on Walmart.
I could go on an on but i am not sure you would get it .
Many small communities and the manufacturing plants in nearby towns are ruined by Walmart's penchant for buying cheap goods from China.
If you cannot compete, you need to figure out how to, or fail.
Winnar!
This is true except for the part about how China props up its currency against the dollar. The largest component of the China/US unfair trade practice is the subsidized Chinese currency. The Chinese buy $600 million dollars a day to keep their currency deflated by 40%.
This is true except for the part about the VAT tax. This VAT program is funded by $30 billion annually, and amounts to an additional 18% price subsidy across the board.
The currency manipulation, VAT subsidies, and other direct unfair practices currently supported by the Chinese government make it impossible for companies producing in the United States to compete. These subsidies add an additional 30% to 40% advantage to Chinese goods, on top of the cheap labor advantage. US Industrial products do not have 30 or 40% margins, and therefore cannot absorb these pricing disadvantages.
Reliable estimates suggest as many as 7,500 to 10,000 jobs are lost with each $1 billion increase in our trade deficit with China. The deficit with China is growing by $2 billion per month.
Winnar my left nut...