Shipping Our Economy, Our Jobs And Our Prosperity To China
by ilene - July 11th, 2010 9:32 pm
Shipping Our Economy, Our Jobs And Our Prosperity To China
Courtesy of Michael Snyder of The Economic Collapse
As the U.S. economy continues to implode, large American corporations are investing billions upon billions of dollars in China. But all of this investment comes at a price. Over the past several decades, hundreds of factories and manufacturing facilities that would have been constructed in the United States, along with millions of decent paying jobs, have ended up going to China instead where labor is so much cheaper. In the process, China has become a massive economic powerhouse, while once thriving manufacturing cities in the United States such as Detroit are now rusted-out corpses. In fact, China’s economy has grown so rapidly that it is being projected that in 2010 China will replace Japan as the world’s second-largest economy. Not only that, but China has already overtaken Germany and is now the biggest exporter of goods in the entire world.
But none of this growth in communist China would have been possible without all of the globalism and free trade that U.S. politicians from both parties have been pushing on us for the last 40 years. When they were selling us on the benefits of "free trade" they didn’t tell us that we would end up shipping our economy, our jobs and our prosperity over to China.
American consumers never seemed to be able to put two and two together. As we were busy running out and filling up our shopping carts with cheap plastic crap made in China, we didn’t seem to realize that a "global economy" meant that we would be competing for jobs and wages with workers on the other side of the world.
So now the U.S. economy, with its high wages and repressive government regulations, is suffering while China’s economy is thriving.…