The media and the corporate controlled congress is spinning this as a "trade war" that would hurt America?
Obama may be waffling on Capitulating to the Corporations once again.
A bipartisan bill targeting China’s alleged currency manipulation easily cleared the Senate Tuesday night, despite warnings from Beijing and free-trade backers that the legislation could spark a trade war and harm the global economic recovery.
Read more: http://www.politico.com/...
My biggest Question is this: Hasn't China already hurt us and won the trade war?
Isn't this what part of Occupy Wall Street is all about?
Is Obama out of touch?
President Barack Obama has not taken a formal stance but said last week he’s concerned the bill may be inconsistent with international trade rules
Read more: http://www.politico.com/...
When you have US companies posting record profits and pocketing the money, why would they want to change the system.
Obama talks about loopholes and being a champion for the American public, but yet capitulates to the same companies who are exploiting Chinese slave labor, expanding their operations in China (which means more growth for themselves) and job killers for the United States.
meanwhile Reid (who has finally started to show some backbone) made this statement:
Reid pointed out that America’s trade deficit with China has grown from $10 billion in 1990 to $273 billion today, costing the U.S. roughly 3 million jobs, most of them in the manufacturing sector
Read more: http://www.politico.com/...
So it's simple. Either China value their currency to make a fair playing field or we do businesses with countries who have a fair trade agreement.
I suspect the problem we have is that the multinational corporations and their lobbyists are pushing back hard with campaign contributions to keep business as usual.
This is fundamentally one of the problems we are facing if we want American jobs back.
If Obama capitulates to this, he will be making a catastrophic political blunder when he should be running with the issue and making the GOP play defense.
If your a Occupy Wall Street Protestor, Union Worker or Independent who sees China and these multinationals (who by the way take huge profits with little benefit to the American public) then you need to start pushing this bill before the election. The GOP along with Obama may try to bury it.
If you want to make some headway please direct everyone to this story.