“Buy American” might be noble Obama-esque policy for America but the rest of the world is not excited by it.
The U.S. Congress approved a $787 billion plan to jump-start the world’s biggest economy last Friday, stipulating that public works and building projects funded by the stimulus use only U.S.-made goods, including iron and steel. Many major steel producing countries, such as China, Brazil and Russia, will essentially be blocked from selling their products for use in construction and energy projects being paid for under the program. (CNN)
The Beijing Ministry of Commerce has raised the warning flag on rising global protectionism, saying policies such as the “Buy American” move passed by the United States Congress could exacerbate the economic crisis. The overseas edition of the People’s Daily, the newspaper of China’s ruling Communist Party, said the requirement was dangerous protectionism, and said that more such steps may come. China’s official Xinhua news agency on the weekend already slammed the “Buy American” requirement as a “poison.” (Reuters)
Now is risking a global trade war part of Obama’s plan? ‘Stimulus‘ is a noble word but it appears to have a completely different connotation with regard to the rest of the world. Obama suggested in his inauguration speech that America would extend a hand of friendship to the rest of the world but how does he propose to do this by alienating other countries with his economic policy?
No country should get become dependent upon only its exports. Just as no merchant can get upset at a consumer for choosing a different merchant (one in their own backyard.) In the business world this a called opportunity. America has gone from being one of the most industrial nations, to being one of the largest consumers, and this is an opportunity to start benefiting on our own resources again. I believe this is an opportunity for China, and other countries who have become comfortable with foreign consumers to begin to think of other ways to create wealth. Money is not a limited resource, and withholding it as a consumer is not wrong.
i agree…nice point of veiw
No country should get become dependent upon only its exports. Just as no merchant can get upset at a consumer for choosing a different merchant (one in their own backyard.) In the business world this a called opportunity. America has gone from being one of the most industrial nations, to being one of the largest consumers, and this is an opportunity to start benefiting on our own resources again. I believe this is an opportunity for China, and other countries who have become comfortable with foreign consumers to begin to think of other ways to create wealth. Money is not a limited resource, and withholding it as a consumer is not wrong.
i agree…nice point of veiw
The U.S. is using a lot of chinese good but also using a lot of chinese money too!
China has a lending of almost $1.3 Trillion to the U.S.(nearly double the amount of the U.S. stimulus fund) If we still insist on protectionism then we do better start saving now before they ask for their money back!
The U.S. is using a lot of chinese good but also using a lot of chinese money too!
China has a lending of almost $1.3 Trillion to the U.S.(nearly double the amount of the U.S. stimulus fund) If we still insist on protectionism then we do better start saving now before they ask for their money back!
America has become far too dependent on third-world oligarchies like China, Saudi Arabia, and Mexico just to name a few. These nations appreciate American currency but have no respect for America itself. To defend them just seems tantamount to treason.
Some say no country should become dependent upon only its exports but America has become too reliant upon inferior, and often dangerous, imports from countries which do not have the best intentions towards the U.S. Outsourcing is also what destroyed its once great industry.
Let China demand its $1.3 trillion. Maybe then more Americans will understand what damage Washington and its corporate lobbies have done with its “free-trade.” Though considering all the injuries and illnesses which have resulted from this in addition to the unemployment, America demanding a refund sounds more in order.
America has become far too dependent on third-world oligarchies like China, Saudi Arabia, and Mexico just to name a few. These nations appreciate American currency but have no respect for America itself. To defend them just seems tantamount to treason.
Some say no country should become dependent upon only its exports but America has become too reliant upon inferior, and often dangerous, imports from countries which do not have the best intentions towards the U.S. Outsourcing is also what destroyed its once great industry.
Let China demand its $1.3 trillion. Maybe then more Americans will understand what damage Washington and its corporate lobbies have done with its “free-trade.” Though considering all the injuries and illnesses which have resulted from this in addition to the unemployment, America demanding a refund sounds more in order.
The bottonline is we are in a corner Internationally. Screw China and if they are concerned about a “made in AMERICA” change of heart by our country. We are obligated by the constitution to fight all threats foreign and domestic and if we the people can’t see how the trade agreements and outsourcing have put us in a third world status I challenge anyone to tell me who is HIRING, WHO WILL BE HIRING. Can’t have a recovery without jobs.
The bottonline is we are in a corner Internationally. Screw China and if they are concerned about a “made in AMERICA” change of heart by our country. We are obligated by the constitution to fight all threats foreign and domestic and if we the people can’t see how the trade agreements and outsourcing have put us in a third world status I challenge anyone to tell me who is HIRING, WHO WILL BE HIRING. Can’t have a recovery without jobs.
China has a made in China Stimulus program.
There goal is be the number one country in the world in 20/20