The Ford Motor Company will build a $490 million facility in China.
Correct me if I am wrong, but I thought the whole idea of opening our country up to free trade was that the demand for our products would create jobs in our country. I didn't know the goal was to only increase the profits for what were once U. S. corporations.
Here is a case in point:
Ford China Plant: Automaker Will Build $490 Million Facility
SHANGHAI (AP) -- Ford Motor Co. said Friday it plans to spend $490 million on building a third assembly plant in China, ramping up production to meet surging demand in this fast-growing market as the U.S. automaker expands in Asia.
"Today's announcement reinforces our commitment to the further expansion of our China operations to meet the continued rise in demand from Chinese consumers for world-class Ford products and services," Ford chief executive Alan Mulally said in a statement.
http://www.huffingtonpost.com/...
Now I am all for selling China Ford automobiles, but the expectation has always been that we would sell them automobiles that were manufactured in the United States. Am I right on this? Hmm...let's go to the record:
DLC | Blueprint Magazine | June 1, 2000
America's Stake in China
By President Bill Clinton
Last fall the United States signed the agreement to bring China into the WTO, on terms that will open its market to American products and investment.
Economically, this agreement [WTO]is the equivalent of a one-way street. It requires China to open its markets, with one-fifth of the world's population - potentially the biggest market in the world - to both our products and services in unprecedented new ways. All we do [for China] is agree to maintain the present access which China enjoys [to our markets]. Chinese tariffs will fall by half or more over just five years. For the first time, our companies will be able to sell and distribute products in China made by workers here in America, without being forced to relocate manufacturing to China, sell through the Chinese government, or transfer valuable technology. We'll be able to export products without exporting jobs.
http://www.dlc.org/...
Well, that didn't work, did it Bill?
The fact is that China most likely is requiring Ford to build factories in China before it can sell it's product. Or, that's what I'm hoping. Because if Ford is moving it's manufacturing to China for other reasons like, say, to reduce overhead, than I'd say that someone owes the American people an explanation.
Another concern that I have is that Ford's long range goal is to start importing automobiles made in China into the U. S. But that could never happen, could it, Bill?