Under Mitt Romney's leadership, Bain Capital invested in Global-Tech Appliances just nine days after Global-Tech touted the "inexpensive labor" and avoidance of U.S. taxes it provided through its Chinese factories. Is it any surprise the Obama campaign is targeting that investment in a new ad? The ad is
airing in seven key swing states.
The Romney campaign is also continuing its attacks on President Obama's China policy, with its own new ad claiming that Obama's been weak on China, costing millions of American jobs. The reality is that, as Obama said in Ohio recently, "We’ve brought more trade cases against China in one term than the previous administration did in two. And every case we’ve brought that's been decided, we won."
Romney is calling on Obama to declare China an illegal currency manipulator. As weird as it is to say this, he's right. Obama should. But you'd have to be a complete and utter fool to believe this is something Romney himself would actually follow through on. It was congressional Republicans who blocked a House vote on a bill to crack down on Chinese currency manipulation last year, but more, this is exactly the sort of issue Romney has turned somersaults on over the past couple years. He's just posturing on currency manipulation because Obama's trade actions don't leave him any other way to try to claim ownership of the "get tough on China" angle.
And as Obama has pointed out, in speeches and in this new ad, since when is Romney tough on China? His specialty as a businessman was sending jobs over there; why would we think he'd be any different as president?