Wednesday, July 27, 2011
'Take China To The Mat?' Obama Did NOTHING!
When he ran for president, candidate Obama said he would take China "to the mat" over its unfair trade practices – but instead he is the one being treated like a doormat.
China still does not play by the rules or provide an open and level playing field on which we can compete. In fact, the most recent data shows that while China continues to grow its economy rapidly, our exports to China are actually falling!
If Mitt Romney is elected President, he will not tolerate this situation. He will get tough with China.
Make no mistake – Mitt Romney is a strong believer in free trade and open markets. Opening new markets overseas creates new demand for American products and services, which in turn creates new jobs for American workers. As the world's second largest economy, and one of the fastest growing, China offers incredible opportunities for American companies. If these companies are able to compete in the Chinese market, they will create countless jobs here at home.
Unfortunately, China is trying to deprive America of that opportunity. For too long, we have allowed China to take advantage of our goodwill and commitment to openness. We have opened our own markets to them, but we have gotten little in return. They steal our technology, manipulate their currency, and put up barriers that prevent us from competing. As a result, for every four dollars of goods China sells into our market, we are only able to sell one dollar's worth into theirs. The resulting trade imbalance is the largest in the history of the world.