4 ms·
I think it's worthwhile for people to go back and read this 1996 news article from the time when we were opening up China and see who led the charge and why. >
by GeekyBear 8y ago
I think it's worthwhile for people to go back and read this 1996 news article from the time when we were opening up China and see who led the charge and why.
>The power of the new China lobby was evident in Beijing last March 7, when more than 100 representatives of major U.S. firms held their annual conference under the auspices of the U.S.-China Business Council. Delivering his first major speech since taking office just weeks before, U.S. Ambassador James Sasser told them that the Clinton administration was counting on aggressive pressure from business to secure renewal of MFN status for China.
>Of course, the Fortune 500 companies that comprise the U.S.-China Business Council—led by Boeing, Motorola, Caterpillar, AT&T, and the American International Group (AIG)—hardly needed Sasser's encouragement...
>Industry's real interest in China is its direct investment there (more than $25 billion), and its revenue from exporting such Chinese-made goods as electrical machinery, clothing, textiles, shoes, and toys back to the states. These exports are highly profitable for the companies, but they undercut labor's bargaining hand—and frequently take away jobs—in the United States, even as they provide a cheap source of goods.
http://prospect.org/article/new-china-lobby http://prospect.org/article/new-china-lobby
I'm afraid that this has always been about rearranging our trade policy so that we enrich the few at the expense of the many inside our nation.