The American Revolutionary War was really all about trade and the exploitation of colonies across the world by the British Empire. Nobody wanted to live under foreign subjugation, and you can’t blame them.
Today, we face a trade war with China that could set us back 214 years to colony status.
The British were the worst in trade with colonies. They even allowed a government-chartered corporation to build an army of 28,000 to rule India, so that nation’s conquered poor would supply cheap raw goods to Britain.
The London mills then turned cotton, for example, into expensive cloth, sold for top dollar. The people in India never shared in the wealth their country generated until freedom in 1947.
Another example of Britain’s avarice was the slave trade. While some 300,000 Africans were shipped to the American South, some 2.6 million were sent by the British to the Caribbean to harvest sugar. By the Civil War the 300,000 in America had grown in population to 3 million, but 2.3 million Caribbean slaves had died off, leaving just 300,000 survivors. Hell Britannia! Continue reading →
When Americans lose their job because it goes overseas due to trade deals, the victims can receive Trade Adjustment Assistance, a program that is supposed to help young and old find new jobs. Nice work if you can get it.
Some Democrat lawmakers and virtually all Repubs have praised this billion dollar effort since NAFTA began moving work to Mexico.
In 2008, Kara M. Reynolds of American University conducted a study that clearly showed workers who receive trade assistance did no better than regular laid off workers. Also, her study found that workers laid off from trade deals like the TPP on average make 30% less at their new jobs.
China has destroyed our factories and jobs because of its unfair import VAT policy, not just currency manipulation
Almost 80% of the Senate (78-20) just voted for a measure that would cite foreign nations for manipulating the value of their currency, although the enforcement of any penalties was not and will not be addressed. But the real purpose of the vote was to give Democrats license to vote for Fast Track authority without seeming to be enemies of the middle class worker and the small businesses of the United States. The illusion will probably stick, as many hail this “bipartisan” action as the way to markedly reduce unfair trade practices – particularly by China.
Even the Washington Post, owned by Amazon’s CEO, explained: “… economists say such manipulation is no longer prevalent and that the longtime poster child of currency manipulation — China — has gradually stopped doing it.” So much for reality, when politicians have a chance to curry favor with big multinational benefactors for campaign cash and future lush (two martini lunch, anyone?) private sector jobs.