[ close ]



Foreign “Dumping” Destroying Our Economy

Published 06/26/07 Tom Rafter - Print Article

America’s largest trading partners are ripping off the country through a practice called "dumping." Dumping is a predatory trade tactic where a country exports a product to another country for below the cost of making it, or cheaper than they would sell it in their own domestic market.

The World Trade Organization investigates claims of unfair dumping practices and recently released a report that said from July through December 2006 China ranked first with the most ongoing dumping investigations into their trade policies. In total there are 36 separate dumping investigations directed at Chinese exports. Japan was tied for third place with 6 investigations the report said .

Currently China is America’s second largest trading partner providing 15% of US imports, while Japan ranks fourth accounting for 8.2%. The US is doing business with some of the most notorious trade dumpers in the world.

Through subsidizing their products, devaluing their currency and underpricing their exports these trading ‘partners’ have been ranking in the dollars. China’s trade surplus is projected to expand as much as 80% this year topping over $300 billion, a recent Wall Street Journal article reports.

And what do these countries that use predatory trade practices do with their massive surplus of cash? They buy our companies that they have been instrumental in destroying and also chunks of the United States' debt. Japan and China were the two biggest buyers of US debt purchasing $644 billion and $349 billion in debt respectively. If this investment was ever pulled out the US economy could be sent into a tailspin.

America’s dependence on trading with these countries that violate ethical standards and take unfair advantage of our country is causing the trade deficit to balloon to $763.6 billion and harming the American worker. US businesses can’t compete economically with the predatory trading practices, and rarely can they alter US policy to change their plight. The result is businesses closing and workers out of jobs – or, in an effort to compete, companies shipped overseas.

Tell your congressman that America should create a tit-for-tat trade program that calls for dumping to be countered by an equally strong American response that dissolves present U.S. “fair trade” policies and implements a policy of trading fair. Tell them that, “and justice for all” still means something in America and should be reflected in our trade policies.


E-mail editor@economyincrisis.org

Spread this message with Digg, Del.icio.us, Reddit, or Stumbleupon, and subscribe to the RSS Feed to track articles

Register for newsletter

Additional Recommended Articles

Hillary v. Obama: The Economy
Do You Know What Is Really Happening To This Country?
Is China preparing for war with America? Is China Already At War With Us?
Foreign “Dumping” Destroying Our Economy
Our "Prosperity" Is An Illusion Supported By Debt, Deception & Imports


Subject
Comment

Article Comments From Readers

guest says "How?" on 06/26/07
How would it really work to become independent? What would it look like during the transition?

guest says "American Independence" on 06/26/07
As Americans,
We have a reputation for being generous. However, more and more countries such as China and Mexico are taking unfair advantage of our people, businesses and sovereignty.
Dumping subpriced and subpar Chinese merchandise is an obvious example. Importing Hapatitus 3 fruits and vegetables from Mexico is another.
Both Democrats and Republicans are traitors and have sold out the citizens. They are guilty of literally giving away the American family jewels of jobs and technology while ignoring intellectual property theft from China, and antiAmerican trade barriers from Japan, Korea and China that protect their crespective countrys from fair competition while dumping continues unabated here in the USA.
It would be helpful for the USA to cease all trading with China and focus on American jobs and independence.
Folks, we can do this.
We don't need these people or their goods. We can become independent again and it would be enormously helpful to our citizens and foreign policy as it fosters a New American Renaisssance.
We need to also to immediately return our central American friends back to their home countries where they are needed by their families amnd governments. There is simply not enough to go around in terms of jobs, healthcare, schools, and money to allow illegals to continue their free ride on American people.
Its time as a nation to close our borders, send the aliens back home and work to ensure the health and happiness and well being of our own citizens to whom this government belongs.