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Current Trade Deficit:   AmericanEconomicAlert.org - Presented by The Robert A. Stranahan Lectures
John Batchelor Show
Wednesday, January 16, 2013
Alan Tonelson,  Research Fellow at the U.S. Business and Industry Council Educational Foundation, in re: US market for Chinese-made goods: I look at US consumption of high-value goods – capital- and tech-intensive industries – how much Americans consume each year,  how much of that made overseas. In 2011, import shae hit a new all-time high of almost 38%.  Chinese now is ore than 5% of the advanced high-value goods. We need to conduct a top-to-bottom review of US trade policies, esp effect of  US agreements. and esp from China – subsidies have produced the massive offshoring; these perverse incentives must be reversed. China in the WTO in 200 made China immune to US trade  laws that try to protect US trade laws from predatory practices -  subsidization and dumping, Sadly, not currency manipulation. At CES in Las Vegas, Microsoft was not there this year; where it always used to have its giant exhibit was a Chinese company introducing products [intriguingly similar to Microsoft products]. Chinese industry has benfitted from a massive wave of tech transfer – some voluntary, much of it extorted by the Chinese govt – outlawed by a US-Chinese agreement in the 1990s and yet still pervasive. Chinese have become trade bandits. Washington has declined ot deal with this. There are no rules that China respect – it doesn’t even have a rules –based governance internally. No tradition of that throughout history.


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