GM Inside News Forum banner
1 - 4 of 85 Posts

· Banned
Joined
·
6,652 Posts
If the dollar keeps falling and the Euro and other currencies keep gaining, why wouldn't you see a resurgence of manufacturing here?
Because China's currency is pegged to the dollar, there are very few environmental or labor laws that are enforced in China, Chinese factories do not have to pay $8,000 a year for health insurance, they don't have to pay 7.5% for social security, they don't have to pay unemployment benefits or worker comp insurance, and China does not have any ever increasing minimum wage.

That's why.
 

· Banned
Joined
·
6,652 Posts
Thats also why you see record high gas prices, a strain on natural resources - stone, steel, cement, etc. Keep sending our jobs overseas America and keep buying all that cheap Chinese crap! Your only shooting yourself in the foot. Why in the world would we want to boost the chinese economy even further??? I'd rather know my neighbor down the street has a good job at an American factory making jeans for $50 a pair and can send his kids to college, etc. than what we have now. Buying jeans for $12.99 and seeing that same neighbor who now works at walmart is practically starving.

Is walmart's stock price worth the death of a nation?
You, sir, are a serf of nationalism.
 

· Banned
Joined
·
6,652 Posts
You sir, are absolutely right. I would love to tell some of the stories my aunt (A retired Wal-Mart Employee) told me about the awful things the company did. I haven't shopped there in 10 years because of it. Whats more important is neither has she since she retired.

Oh, by the way: I just checked out the link. I think it is incredibly important to support American Jobs and to be patriotic. The moment that a citizen stops being critical of our government's actions is the moment they are unpatriotic in my opinion. The reason our government works is because it is always up for evaluation. Those who judge blindly and are willing to say,"there are some things I shouldn't know" are possibly the worst citizens possible.
China’s entry into the World Trade Organization (WTO) was supposed to improve the U.S. trade deficit with China and create good jobs in the United States. But those promises have gone unfulfilled: the total U.S. trade deficit with China reached $235 billion in 2006. Between 2001 and 2006, this growing deficit eliminated 1.8 million U.S. jobs (Scott 2007). The world’s biggest retailer, U.S.-based Wal-Mart was responsible for $27 billion in U.S. imports from China in 2006 and 11% of the growth of the total U.S. trade deficit with China between 2001 and 2006. Wal-Mart’s trade deficit with China alone eliminated nearly 200,000 U.S. jobs in this period.

The manufacturing sector and its workers were hardest hit by the growth of Wal-Mart’s imports. Wal-Mart’s increased trade deficit with China eliminated 133,000 manufacturing jobs, 68% of those jobs lost from Wal-Mart’s imports. Jobs in the manufacturing sector pay higher wages and provide better benefits than most other industries, especially for workers with less than a college education.

China has achieved its rapidly growing trade surpluses by purchasing more than $1 trillion in U.S. Treasury bills and other government securities over the past few years in order to artificially and illegally reduce the value of its currency and thereby lower the cost of its exports to the United States and other countries. It has also repressed the labor rights of its workers and suppressed their wages, making its products artificially cheap and further subsidizing its exports. Wal-Mart has aided China’s abuse of labor rights and its violations of internally recognized norms of fair trade behavior by providing a vast and growing conduit for the distribution of artificially cheap and subsidized Chinese exports to the United States.

source
 

· Banned
Joined
·
6,652 Posts
You sir, are absolutely right. I would love to tell some of the stories my aunt (A retired Wal-Mart Employee) told me about the awful things the company did. I haven't shopped there in 10 years because of it. Whats more important is neither has she since she retired.

Oh, by the way: I just checked out the link. I think it is incredibly important to support American Jobs and to be patriotic. The moment that a citizen stops being critical of our government's actions is the moment they are unpatriotic in my opinion. The reason our government works is because it is always up for evaluation. Those who judge blindly and are willing to say,"there are some things I shouldn't know" are possibly the worst citizens possible.
Don't forget my signature links.
 
1 - 4 of 85 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top