This week in Shanghaiist
Hooray! Shanghaiist's favorite American politician is coming to town. Here at Shanghaiist headquarters, we're getting ready to roll out the red carpet for Senators Lindsey Graham and Chuck Schumer, the fantastic bipartisan duo joining forces to root out Communist China economic evil at a city near you on their upcoming China tour:
Democratic Senator Chuck Schumer and his Republican colleague Lindsey Graham said that they would visit China before a floor vote on the bill, which would slap a 27.5-percent tariff on Chinese imports.
So ... then all of those goods not produced in China flooding the American market will be able to run off all of those Chinese produced products that are actually being manufactured by American companies who have moved to China to cut costs, who will undoubtedly be happy about paying these tariffs. And American consumers will certainly be pleased about paying higher prices for most of what they buy. It's a win-win situation!
"Today, we have the largest trade deficit in history with China. If China is to be a player in the world economy, they must play by the rules every other country has to play by ... We hope we are given some reason to be hopeful that China will revalue its currency and play by the rules while we are there."
Question of the day: Will the senators ever be able to put two and two together, or do they think all of those "Made in China" tags on American brand goods are actually China's fault?
Also on Shanghaiist:
China: Runs with scissors
When $18.5 billion just isn’t enough
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I am morally and politically opposed to shopping at Wal-mart and I think the American consumer would rather pay higher prices in order to have our manufacturing base back. I feel sad for the entire generation of kids that have never seen a Made in USA label on a consumer product.
"Will the senators ever be able to put two and two together, or do they think all of those "Made in China" tags on American brand goods are actually China's fault?"
There is something odd about China having lower wages than the Phillipines, Malaysia, Bangladesh or Indonesia. That is the only draw, slave labor and no environmental regulation.