Mr. Romney has made "stand up to China" a sound bite for his campaign. We've all heard it, and few of us would disagree with the sentiment. When America needs to place economic blame, China immediately comes to mind .
But how can this be accomplished ? Any ideas ? Trade restrictions ? Import taxes ? Embargo's ? Mitt isn't providing any details on the methods he plans on using to "stand up". And so it set me to thinking........
It's accepted that we buy more from China than they buy from us. But they DO buy from us. Billions every month, according to the U.S. Dept. of Commerce.
Experts agree that any attempt we make at restriction or prohibitions aimed at China will be met with in a manner that guarantees retaliation. And retaliation will further cripple our economy. Make absolutely no mistake: We must export to China. We depend on their markets. Just ask the large American farm industry. Of course, there's a deficit. About 30 billion more from them than to them each month. Still, we've shipped over 8 billion a month to them just in August of this year.
So, again, how do we get tough ? The truth is, we don't. I don't, and most likely, neither do you. We all go to Wal-Mart. We buy Hanes and Fruit-of-the-Loom and Levis' and outdoor chairs and lawnmower blades and snow shovels and electrical cords and everything else we can get our hands on that we need. We buy U.S. brand names made with Chinese components. Like your new V-6 Buick ? Engine completely manufactured and assembled in China. The list goes on and on, and the more you look, the more you say "jeez, it's endless". And it is. Heck, even my beloved Harley-Davidson, a symbol of America, is loaded with Chinese and Japanese components. Sacrilege !
And back to Mr. Romney. His investments made him 22 million, give or take, last year. Investments made in corporations doing business all over the world, I would imagine. Just like mine, only on a much (MUCH) larger scale. Corporations run by various Boards and answering ultimately to shareholders. Like me. And Mr. Romney. And we, as shareholders DEMAND PROFITS. 'We invest in your company for profit, and we expect it each and every quarter. You like that high dollar position on the Board, buddy ? Then you better see to it that we get dividends.'
And you know very well how the rest has gone in recent years.......
The accepted way to slash costs and increase profits.....close facilities in the U.S. and take production to the Pacific rim, mostly China. Cheaper costs equals higher profits. Name a big corporation. GE, GM, Apple, IBM, Hewlett-Packard, LL Bean, Mattel, etc. Just try to find one that doesn't have manufacturing in China.
Is all this bad for America ? Depends on who you ask. The guy looking for work who lost his job due to offshore outsourcing will say it's just plain wrong on every level.
Ask Mitt Romney and he may think differently, given how he makes his income. Without these "ship it to China" business practices, Mr. Romney's investments could not have been so lucrative as to provide such an annual income.
Seems like a conflict of interest to me.
I will venture that every person has an opinion on this issue. And most clear headed folks will look at the reality of this and admit that there's just no easy solution, if there is one at all.
I doubt we've heard Mr. Romney's honest opinion, though.
Mr. T
10:30 am on Monday, October 29, 2012
Great Article
Dave Cunix
10:20 am on Tuesday, October 30, 2012
Agreed. Thanks for posting.
Mars
7:26 pm on Monday, October 29, 2012
Thanks for posting. I couldn't agree more.
Carl Jensen
4:05 am on Tuesday, October 30, 2012
WHAT KIND OF GUY HAS NO PROBLEM CLOSING OUR PLANTS AND OUTSOURCING OUR JOBS... Willard MITT ROMNEY DOES
JOB CREATOR RECORD: During the nearly 15 years that Romney was actively involved in running Bain, a private equity firm that he founded, it owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components, according to filings with the Securities and Exchange Commission. As Govenor, he even OUTSOURCED jobs to India!
WHATS NEW? Bain Capital is CLOSING a PLANT in Freemont, Il on November 5th, one day before the election. Does he care that American Workers are about to lose their jobs? Nope, Bain Management is having the American Workers TRAIN thier Chinese counter parts for THIER Jobs!
Tough on China? Really? Mitt Romney’s financial company, Bain Capital, invested in a series of firms that specialized in relocating jobs done by American workers to new facilities in low-wage countries like China and India.
Hmmmm...We better think TWICE before voting to put another Republican in office, who clearly does NOT have the best interest of the majority of the American people. Remember...who their backers are...Big Oil and Corporate Donors with their hand out!
Carl Jensen
4:47 am on Tuesday, October 30, 2012
HARD FACTS...SOMETHING MITT STAYS AWAY FROM...
Mr. Romney also has millions invested in a series of Bain funds that have a controlling stake in Sensata Technologies, a manufacturer of sensors and controls for vehicles, aircraft and electric motors that employs 4,000 workers in China. Since Bain took over the operation in 2006, its investment has quadrupled in value. Bain continues to own $2.6 billion worth of Sensata’s shares.
Two years ago, Sensata bought an operation that made automobile sensors in Freeport, Ill. At the first meeting with the plant’s 170 workers, Sensata managers announced that by the end of 2012 all the equipment and jobs would be relocated, mostly to Jiangsu Province. Workers have staged demonstrations, pleading for Mr. Romney to intervene on their behalf.
Chinese engineers, flown to Freeport for training on the equipment, described their salaries as a pittance compared with Freeport wages.
“This goes to show the unbelievable hypocrisy of this man,” he said of Mr. Romney. “He talks about how we need to get tough on China and stop China from taking our jobs, and then he is making money off shipping our jobs there.”
In the case of Sensata, however, Romney cannot deny the fact that in 2010 and 2011, according to his tax returns, Romney reported a charitable donation of $405,000 in Sensata stock that he received as “partnership distributions”
James Thomas
6:20 pm on Wednesday, October 31, 2012
And he steps on FLOWERS TOO!
joe consumer
5:44 am on Tuesday, October 30, 2012
dear small business,
I am so tired of hearing about the "job creators". Here is a secret; businesses, especially mega corporations, are NOT job creators! Consumers are. Without them no business would hire, with them they must. The problem is that the consumers do not have any money to spend. Most of the money, and more each day, is being held at the top out of the hands of the consumer. Wonder why your small business is doing poorly? It's not because of teachers and safety personnel. Big business has you convinced they are on your side. They liquidate companies and ship them over seas which is good business for them but hurts you. Until we have regulations and taxes to encourage companies to give raises and benefits to workers instead of hording all the profits for shareholders, small business will continue to tank will wall street and the 1% thrive.
The consumer
Mars
2:26 pm on Tuesday, October 30, 2012
You are correct.
Reds fan
9:03 am on Tuesday, October 30, 2012
Apparently Obama's jobs czar likes to outsource jobs!!
Let me ask this how many Apple users want us to stand up to China? Isn't that where all of the iphones and ipads are made? Apple reported record profits and everyone is still buying their made in china products. I'm sure for a little less profit Apple could make stuff here right.....how come you or Obama doesn't attack them??
Because Obama owns Apple stock. He supports outsourcing Apple jobs to China too.
Tim
9:20 am on Tuesday, October 30, 2012
Her's an easy suggestion...turn the junk over that you are buying and see where it is made, then choose that which is made in the U.S. (or second best, something made in Canada, Australia or Europe where the wages etc are similar to the U.S.). Sure you have to put down your cheeze puffs and actually work just a little, but alternatives for most items can be found that are made in the U.S. Target even sells flat screen T.V.s assembled in the U.S. (I know, the parts are made overseas, but its something). I've recently found plastic cups and plates, clothing (T-shirts and socks) and even plastic lawn chairs like those referenced above, that are made in the U.S. Another option is to buy stuff made locally, including food products. Be careful of buying canned or packaged food in a drugstore chain - much of that is made in China at lower safety standards. What this companies don't want us to realize, is that for every product made in China that we buy, it subsidizes a CEO's 7 figure pay, a Chineese worker's low pay, and the elimination of an American worker.
Tim
9:24 am on Tuesday, October 30, 2012
Tired of buyer $40 plastic junk toys from China at Wal Mart for your 2 year old for Christmas? Try contacting a local craftsperson, wood worker or art student and pay them to make unique wood blocks (that are painted with safe paint). Tired of paying $60 for a plastic doll made in China for your niece? Try searching for a local doll maker online. Fake plastic Christmas tree from China sold at HomeDepot? Try a real tree grown in NE Ohio by an actual farmer, heck youcan make a trip out of it by cutting your own. SO many options! Plus you are then supporting local American jobs, and then these workers have more money to spend locally.
Reds fan
9:35 am on Tuesday, October 30, 2012
So we shouldn't buy anything from Home Depot anymore is what you are saying? Or target or Walmart? That's like preaching cut defense spending except defense spending is people too. Are there jobs not worth anything?
BTW, I like a real tree and buy one each year. We make a family day of it. Family still matters.
Tim
11:22 am on Tuesday, October 30, 2012
Well if HomeDepot and Wal Mart refuse to sell items made in the U.S. then perhaps you should consider not shopping there anymore. However since that is not the case and that was not what I was saying, then that is not the issue. There are alternatives to buying made in China items at nearly all stores, or locally made, or other options. I believe cutting defense spending is a whole other topic not applicable to this discussion.
And just like you found a fun alternative to fake imported trees, you can make it a family "adventure" to find alternatives to imprted goods.
Reds fan
11:34 am on Tuesday, October 30, 2012
I wonder if any products in your home or car are made in China.....or if you shop at HomeDepot, target, walmart etc
Would it be awesome if America made all of the stuff again especially APPLE stuff? Of course but like you said its unrealistic....although it seems that foreign car companies have found a way to locate here while bailed out Chrysler is moving to italy and making jeeps in china.
jim guls
6:43 am on Wednesday, October 31, 2012
Funny how there is so much neg against Romney. This made in china has been going on way before he decided to put his hat in the ring. I didnt read or hear anything these past 4 years about obama against made in china. Wish you reporters and news people would report fair. Instead of one side. AS a Independent voter. I watch and read different news. Wish you would go after obama on the killing of our 22 NAVY seals who took out the most dangerouse person ( by the way they had to pull Obama off the golf course when they had to have the order to take the guy out) Closing the Ohio tank company cutting back on our arms force. Oh and the COAL MINERS being layed off 700 and more million taken from medicare for obamacare. or the attack that killed our people on 9-11-2012 and they watched it from a drone. and Passing the blame somewhere else. So, WE THE PEOPLE waking up and saying no more. Our families and friends and our country can not take WILL NOT take anymore lies from the reporters or news channels . WE WILL SEE right through them. (OH and Hollywood too)
Ed Fisher
9:11 am on Wednesday, October 31, 2012
This blog is about the simple, easy-to-understand topic of Romney's "stand up to China" statements. As usual, when faced with any facts which may counter your "Romney is the Messiah" mindset, other topics are raised to cloud the single issue being discussed.
Jack Kelly
7:34 am on Wednesday, October 31, 2012
"Funny how there is so much neg against Romney. "
Hypocritical and/or stupid much? Or just when posting here?
Ed Fisher
9:01 am on Wednesday, October 31, 2012
Jack, while my blog is about Romney, clearly it is aimed at his "stand up to China" claims. Yes, it is negative. But is there anything that you believe is untrue ? What strikes you as hypocritical or stupid ? Him making millions supporting outsourcing of our jobs, or me commenting on it ?
Joseph Robert
8:08 am on Wednesday, October 31, 2012
New, CBS/NYTimes/Quinnipiac Poll
Obama Leads in Ohio, 50 percent to 45 percent Romney
Ohioans who early voted, 60 percent voted Obama, 34 percent voted Romney.
96 percent of Ohio voters who haven’t voted, their minds are made up on voting choice.
Ohioans have a higher unfavorable (48 percent) rating than favorable rating (46 percent) for Romney. In contrast, Obama has higher favorable than unfavorable rating.
http://www.nytimes.com/interactive/2012/10/31/us/politics/31poll-results-documents.html
I believe that Romney’s lies in his false Jeep ad aren’t helping his favorability or his desperate and dying campaign! NBC-TV's Tom Brokaw called that ad "dead wrong" this morning (Oct. 31).
Joseph Robert
8:23 am on Wednesday, October 31, 2012
Happy Halloween! Great day to Vote Early if you can. More info at:
http://cuyahogafalls.patch.com/events/early-voting-for-general-election
Ed Fisher
8:50 am on Wednesday, October 31, 2012
The truth is, we do what we can with what we have. If you have 30+ dollars to spend for a tee shirt, you can buy one made in the US. But I don't know anyone on that budget. Anymore, whatever you're looking for is most likely imported. If it isn't, you probably can't afford it. That's usually the case for me. But people like Mitt Romney DEPEND on sending US ,jobs to cheaper labor markets TO MAKE HIS MONEY. He doesn't care about your income. He only cares about his. If you don't see that, you're only trying to fool yourself.
Mr. T
9:02 am on Wednesday, October 31, 2012
@ Reds Fan
Please do a little more research, rather than listening to the ads on T.V. Jeep is not moving their manufacturing to China.. http://thecaucus.blogs.nytimes.com/2012/10/30/chrysler-ceo-jeep-production-isnt-moving-to-china/ and the Romney campaign has been criticized for spreading this misinformation.. Believing T.V. political ads, from either side, is like listening to the shake weight commercial and thinking your gonna loose weight.
tom m
6:44 pm on Wednesday, October 31, 2012
MR T it is the GAC auto group to make Jeeps in China
http://uspolitics.einnews.com/article/119995684?url=%2Fnews%2Fgac-fiat
Mr. T
8:25 pm on Wednesday, October 31, 2012
First and foremost, did you read the posted link?? And second, yes tom m.. They are having talks about opening a plant in China, that would produce Jeeps that would only be sold locally to Chinese people. As China continues to 'advance' they have the one of the largest demand for cars in the world. The point is, NO I repeat NO American jobs would be lost.. The cleverly crafted Romney ad, is as usual, full of half truths.
P.S. I couldnt read you post because I dont have a subscription to that site.
Jean Williams
9:04 pm on Wednesday, October 31, 2012
mr t which is it????? first you say >> Jeep is not moving their manufacturing to China
then you say >>>>>They are having talks about opening a plant in China,
make up your mind
Murphy-Solon
8:37 pm on Wednesday, October 31, 2012
Only 1 in 10 Chinese own an automobile. It is estimated that 1 in 4 Chinese will own a car in 10 years time. The American auto companies would be totally foolish not to compete in a market with that kind of growth curve. Incidentally, it is that growth in car ownership in China and the greater Pacific Rim that will have looking back at today's gasoline prices as " the good old days" .
Mr. T
10:02 pm on Wednesday, October 31, 2012
@Jean Williams
I default to my second comment >> did you read the article>>>>> Moving ALL manufacturing to China, which is what people infer from Romney's bogus add, and opening a NEW plant in China are two completely different things..
Murphy-Solon: I couldn't have said it better.. People think any expansion of business is 'bad' business. China is the new 'Communist' threat, reminiscent of Russia in the 60's and 70's, that the Republican party uses to scare voters.
Jean Williams
10:44 pm on Wednesday, October 31, 2012
MR t there is the text of the ad “Obama took GM and Chrysler into bankruptcy and sold Chrysler to Italians who are going to build Jeeps in China. Mitt Romney will fight for every American job.” so whats your beef
Mr. T
10:53 pm on Wednesday, October 31, 2012
@ Jean Williams
I default to my first comment, Believing T.V. political ads, from either side, is like listening to the shake weight commercial and thinking your gonna loose weight. Here's a free tip, do a little research. If you did you would be appalled by these commercials. They are half truths and misleading..