Thursday, February 09, 2006

US Senators to Revoke Normalized China Trade?

Now this is a true bone headed move.

U.S. Sens. Lindsey Graham, R-S.C., and Byron Dorgan, D-N.D., announced legislation Thursday that would revoke normal trade relations with China.

Under the legislation, Congress would have to vote annually to grant China normal trade relations with the U.S.

So they will be using this as some sort of club to punish China. So the trade deficit is too big then we punish them stopping trade to them. Or lets say they aren't paying workers enough. So would US steelmakers not ship to them? It is idiotic protectionist crapola.

This would first hurt US consumers who get their cheap stuff from Wal-Mart made in China. That is almost like an inflation buster in itself. People pay less for everyday stuff and they could then use that money for investing, retirement, health care, or some other thing.

We would also close off one of the biggest markets in the world from buying out goods as well. They still need the steel, cars, technology and other stuff we currently produce and will go to another source to buy them. Basically we will let our competitors get unfettered access to their market while we stand on the sidelines and watch them to save a few lousy manufacturing jobs? That is why Senators shouldn't have anything to do with trade.

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