China Undermining Economic Recovery and U.S. Security; Communist Regime Has Erased 10 Million U.S. Jobs and Stolen Priceless Intellectual Property
Byline: Rep. Dana Rohrabacher, SPECIAL TO THE WASHINGTON TIMES
With a fledgling economy the focus of the 2012 presidential campaign, there has been one glaring omission from the debate so far: the failure of our current trade policy, particularly with China. Trade policy affects national security by putting the safety of our people and their jobs at risk.
Between 2000 and 2010, the United States ran an aggregate trade deficit in goods of $6.8 trillion. This is one measure of how much money went to support production and job creation overseas rather than here at home. Last year, the trade deficit in goods was $635 billion. The import share of the domestic economy has grown very rapidly in textiles, machinery, computers, electrical equipment and motor vehicles. We buy a third to a half of these products from overseas, leaving American factories idle and American people jobless.
One-third of the trade deficit in goods over the past decade was with communist China. Our 2011 trade deficit with Beijing is on track to hit a record $300 billion. In their new book, Death by China, University of California at Irvine economists Peter Navarro and Greg Autry calculate that this deficit has cost America 10 million jobs over the past decade.
Putting us back on a path of national prosperity requires a dramatic change in trade policy. A weakened U.S. industrial base and a monstrous public debt also make it difficult to sustain the kind of national power we need to meet the across-the-board challenges posed by a rising China.
Most-favored-nation (MFN) status was given to China on a permanent basis in 2000 when President Clinton unwisely decided to let Beijing join the World Trade Organization. MFN forces us to treat a hostile, totalitarian government just like our allies England and Japan. Since 2000, the trade deficit with China has more than tripled. It was a horrible economic bargain with dire strategic consequences. MFN has enabled Beijing to build financial and military capabilities that support ambitions at odds with U.S. security.
Global Times, a state-run communist media outlet, has argued, China has a good reason to seek substantial retaliation over the sale of defensive weapons to the democratic island of Taiwan, which Beijing has vowed to conquer. Among the threats listed, China can also slash the imports from the U.S. side, leading to the loss of employment. …