NPR covered free-trade deals today on On Point.
Some basic facts were established – our trade-deficits with China, Japan, Mexico, and everyone else are staggering; our exports with Mexico have grown tremendously while also strengthening Mexico’s economy, which helps stabilizes Mexico; China, Japan, and a few other countries offer foreign companies heavy subsidies to manufacture in their own countries, and also that China happens to require several big-name corporations like Intel and Boeing to share their technologies with the Chinese government; these countries will even build factories for these companies (Hey! Here’s a free manufacturing plant! Come abuse our poorest citizens!) – and that the WTO has also set the precedent (copied in NAFTA and TPP) of allowing corporations to petition tribunal courts that are allowed to require governments to change their laws: if a company feels that Cambodia’s government is breaking the free-trade pact by passing too-strict of regulations, the company can literally take the Cambodian government to court.
The guest who was for free-trade deals such as NAFTA, the TPP, and the WTO, blamed our Houdini middle-class (where’d he go?) on a lack of education and infrastructure.
The other guy kept mentioning how these free-trade deals are always so favored by Democrats, like The Clintons and The Obama, but also by both The Bushes. He said special interests have been driving these trade pacts because they allow these companies to circumvent wage laws, environmental regulations, etc.. Then he finally came out and said it’s because of businesses like CitiGroup, Goldman Sachs, and JP Morgan – all of whom, as the guest points out, funded both The Clintons and The Bushes and The Obama – that we have these horrible trade-pacts, because they’re the ones saying what should go into these pacts.
That’s the craziest conspiracy theory I ever heard of! Wall Street commandeering both parties to establish word-wide trade-zones which they themselves dominate! Egregious accusation!
Get rid of the damn free-trade deals. Of course The Kings of Wall Street manipulate both parties, and write our free-trade pacts. We can replace them with tariff agreements – hey man, you lower yours, we’ll lower ours, deal? Tariff agreements, without China building factories and staffing them with unpaid slaves for US companies to go ravage.
Who knows? Maybe GM, after getting a bailout, will move its factories back to the US!