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Don't kid yourself thinking that the US is above those tactics. They might use some other techniques but it is in many regards just as protectionist as China.
by dr_faustus 10y ago
Don't kid yourself thinking that the US is above those tactics. They might use some other techniques but it is in many regards just as protectionist as China.
One common theme is completely exaggerated fines leveled against foreign companies. Look at the banks: while doing very little to punish U.S. banks (if you take net transfers into account) who where without a doubt the main culprits in the sub-prime crisis and thereby causing a global financial crisis, the U.S. almost exclusively punished foreign banks - and with that also foreign tax payers - for wrong doings like dealings with countries the U.S. dislikes, etc..
Another striking example is the fines imposed in Volkswagen. While it certainly was immensely stupid to cheat on the emission test, the fines are completely over the top: $16b and counting. After every state and agency is through with VW, it might be $30b or more. At the same time, U.S. car companies that caused actual casualties with there shoddy engineering are left of the hook with a slap in the wrist.
Some sources:
http://www.forbes.com/sites/timworstall/2014/12/22/isnt-it-strange-that-the-us-gets-to-fine-alstom-a-french-company-for-bribery-not-in-the-us/#28903e6c2de3 http://www.forbes.com/sites/timworstall/2014/12/22/isnt-it-s...
http://www.nytimes.com/2015/09/29/business/dealbook/volkswagen-faces-harsher-penalties-than-a-us-company-might.html http://www.nytimes.com/2015/09/29/business/dealbook/volkswag...