I have started many threads about the positive economic impact that ethanol production has on the U.S. economy. It has produced countless thousands of jobs (which more than offset the tax breaks that ethanol blenders get), and it has revitalized small town farm economies and manufacturers of everything from tractors to ethanol factories.
I have always been a proponent of ethanol for another reason: it reduces the flow of dollars to countries that support groups that want to fly airplanes into skyscrapers. But America has another problem: it owes China a trillion dollars and every year consumers give China countless billions of dollars for cheap junk.
Now I come across this story:
China moves to become major ethanol exporter
So this is what free trade gets us: We are becoming more and more dependent upon China for our energy. This will cause our trade deficit to grow. Because Americans are not being employed to make this ethanol, the government will not receive any employment taxes, which means it will have to sell more treasury bonds (to China), so we will be even more in debt.China will export at least an estimated 500,000+ tons this year (about 11,000 barrels a day), according to Reuters. The exports may even reach over 900,000 tons this year, up from about nothing last year. Most of this ethanol is sent to the United States. Two factors may influence the boom: the fact that China needs to import cassava to use as biomass and the continuing ethanol plant boom in the U.S.
The Chinese government is playing a large role in building ethanol plants in China, since there were only four until 2005. One Beijing-based international house trader said there are a few thousand ethanol producers in China today. The government is also encouraging producers to use non-grain crops like cassava as a feedstock. One company, China Songyuan Ji'an Biochemical Sales Co. Ltd., told Reuters it would export all of its ethanol output - 300,000 tons - this year.
But wait. It gets worse. Think about this the next time you complain that union workers are fat and lazy and deserve to be laid off because Chinese workers are harder working:
http://news.bbc.co.uk/2/hi/asia-pacific/6761217.stmPolice in northern China say they have now arrested more than 160 people accused of involvement in slave labour in illegal mines and brick factories.
Among them is the foreman of a brickworks in the northern province of Shanxi, who had been the subject of a nationwide manhunt.
Almost 570 people trafficked as slaves - 50 of them children - have been freed in Shanxi and neighbouring Henan.
That's right. You work hard for your money, and you as an American have a right to buy whatever you want from wherever you want.