Pella Chronicle

Z_CNHI News Service

November 15, 2013

EDITORIALS: Economic war with China; Ban on trans fats

America losing an economic war with China

(The Daily News of Newburyport, Mass.)

This is the time of year when many communities set property tax rates. Invariably, taxes are going up and the discussion will turn to lessening the burden by attracting new business - even if it means those businesses from a neighboring community.

As these situations play out every year, our communities fight over a fast-diminishing pool of manufacturers, the scraps of what was once a robust segment of our economy. We’re not alone. It’s happening in nations across the world, and the culprit is the same: China.

For 13 years we’ve been at the losing end of an economic war, one that we have largely refused to fight. Instead we’ve rattled our rhetoric ineffectively as losses have grown. It’s estimated that 57,000 American manufacturers have closed during that time. For many American workers, their final act is boxing up their manufacturing equipment to ship to China.

As of 2011, America is estimated to have lost 2.7 million manufacturing jobs directly to Chinese competition - plus an unknown number of jobs in related sectors.

This economic war began in 2001, after the United States and others championed China's entry into the World Trade Organization. This allowed China, which had a notorious reputation for unfair trade practices, to trade on par with nations that followed the WTO’s strict policies. It was naively thought that China's entry would mean it would start following the rules, that its working class would embrace democracy and prosperity, and that other nations would gain equal access to China’s economy.

None of those things happened. In the meantime, China continues its old tricks — subsidizing its private sector to destroy foreign competition, manipulating its currency to give itself a trade advantage, and suppressing workers. It has stolen intellectual property from U.S. companies and bullied American businesses attempting to enter its market. All as it continues to buy up our mounting public debt, furthering our dependence on it.

Text Only
Z_CNHI News Service
  • Screen shot 2014-04-18 at 4.44.15 PM.png Paint, doodle and sketch: 3 apps for art lovers

    In the absence of a palette of watercolors and a sketchpad, these three apps can fill in as your art supplies of choice.

    April 18, 2014 1 Photo

  • Smartphone kill switches are coming

    Smartphones need kill switches. It's a relatively easy solution to the pricey (and irritating) problem of smartphone theft. But who would have thought that the big carriers would team up with Apple, Google, Microsoft, Nokia, Samsung and lots of other manufacturers to voluntarily begin adding the technology by July 2015? The cooperative spirit! It makes so much sense!

    April 18, 2014

  • Why do wolves howl?

    Of all the myths that dog the wolf, none is more widely accepted than the idea that wolves howl at the moon. Images of wolves with their heads upturned, singing at the night sky, are as unquestioned as a goldfish's three-second memory or a dog's color-blindness (both also myths).

    April 18, 2014

  • Biggest student loan profits come from grad students

    This week, the Congressional Budget Office projected that the federal government would earn roughly $127 billion from student lending during the next 10 years.

    April 18, 2014

  • quake.jpg Pennsylvania won’t take action following Ohio ruling on quakes, fracking

    Pennsylvania officials plan no action despite new Ohio rules on drilling that affect a seismically active area near the state line.

    April 18, 2014 1 Photo

  • taylor.armerding.jpg Warren's populist pitch on student loans is off key

    Sen. Elizabeth Warren's populist rhetoric pumps up students about their loan burdens, but she conveniently neglects to mention the real problem - the exorbitant cost of college - much less how she's benefitted from those high prices.

    April 18, 2014 1 Photo

  • VIDEO: Boston bomb scare defendant appears in court

    The man accused of carrying a backpack containing a rice cooker near the Boston Marathon finish line on the anniversary of the bombings was arraigned Wednesday. He's being held on $100,000 bail.

    April 17, 2014

  • Consumer spending on health care jumps as Affordable Care Act takes hold

    Nancy Beigel has known since September that she would need hernia surgery. She couldn't afford it on her $11,000 yearly income until she became eligible for Medicaid in January through President Barack Obama's signature health care law.

    April 17, 2014

  • Lindley, Tom.jpg Golf turns into snooze-fest without celebrities like Tiger and Phil

    The Masters lumbered on last week without two of pro golf's biggest names, Tiger Woods and Phil Mickelson, and fans changed the channel. The PGA needs someone with star power if it's going to lure people back to the game.

    April 17, 2014 1 Photo

  • The case for separate beds

    The other night I slept on a twin bed in the guest room of the house I share with my husband and our two kids.
    It was the best night's sleep I've had in years.

    April 17, 2014

Features
Facebook
AP Video
Raw: More Than 100,000 Gather for Easter Sunday Raw: Greeks Celebrate Easter With "Rocket War" Police Question Captain, Crew on Ferry Disaster Raw: Orthodox Christians Observe Easter Rite Ceremony Marks 19th Anniversary of OKC Bombing Raw: Four French Journalists Freed From Syria Raw: Massive 7.2 Earthquake Rocks Mexico Captain of Sunken SKorean Ferry Arrested Raw: Fire Destroys 3 N.J. Beachfront Homes Raw: Pope Presides Over Good Friday Mass Raw: Space X Launches to Space Station Superheroes Descend on Capitol Mall Man Charged in Kansas City Highway Shootings Obama Awards Navy Football Trophy Anti-semitic Leaflets Posted in Eastern Ukraine Raw: Magnitude-7.2 Earthquake Shakes Mexico City Ceremony at MIT Remembers One of Boston's Finest Raw: Students Hurt in Colo. School Bus Crash Deadly Avalanche Sweeps Slopes of Mount Everest
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Obituaries