In 2000 Bill Clinton And Congress Allowed Communist China To Enter World Trade, What A Mistake That Was

[Truth7t7]

In 2000 Bill Clinton signed the law below regarding Communist China, it was the greatest American sell out in its history supported by Democrats and Republicans alike $$$ Here we are 25 years later

Wikipedia: United States–China Relations Act of 2000​

Prior to passage of the bill, China was subject to an annual review by Congress of China's trade status with the United States. Since 1980, the president has had to issue annual waivers to trade with China. The act removed the review, eased some trade barriers, and facilitated China's entry into the WTO. China became a member of WTO on December 11, 2001, and its permanent normal trade relations status with the US was made permanent on December 27, 2001.

 

[Fantine]

Why do you think inflation was so low for 20 years? Prices became low and stayed low.
China, which was really totalitarian, became capitalistic. They are still repressive, although thanks to 47 we are catching up.
I think they would have been more dangerous if excluded from the world stage.

 

[Truth7t7]

Why do you think inflation was so low for 20 years? Prices became low and stayed low.
China, which was really totalitarian, became capitalistic. They are still repressive, although thanks to 47 we are catching up.
I think they would have been more dangerous if excluded from the world stage.

Trade Tariffs On China, The Free World's Enemy #1

 

[Fantine]

From AI synopsis: AI synopsis: Countries that both have McDonald’s have never been involved in war with each other. In 1996, columnist Thomas Friedman came up with what is known as the Golden Arches Theory of Conflict Prevention, the notion that no two countries with McDonald's franchises have ever gone to war with each other.

The reason is that the countries' economic interdependence is so great that both would be irreparably harmed by going to war--even a tariff war--with one another.

And until a president with six bankruptcies and even more bluster decided to test that theory, we had a roaring stock market i nstead of a sure-fire recession and an international economic crisis predicted by the IMF.

Yes, we were hurting ourselves as much as China, and hurting the world as well. And now Scott Bessent, whose mother-in-law perhaps told him that yes, she would complain if she didn't get her Social Security, has said that Trump is stepping things back.

The reason of course is that China has 90% of the world's rare earth minerals, and our factories will close when we run out of inventory in a few months. Thank heavens necessity knocked some common sense into this equation.

What they have to do now is invent some back story about how Trump has emerged a winner to soothe his ego. I won't believe it for a minute, and neither should anyone else.

 

[JimR-OCDS]

Why do you think inflation was so low for 20 years? Prices became low and stayed low.
China, which was really totalitarian, became capitalistic. They are still repressive, although thanks to 47 we are catching up.
I think they would have been more dangerous if excluded from the world stage.

and US jobs fled the US and we didn't feel the pain of not manufacturing anything until the pandemic hit us.

I lost my job to China because we could not compete with the low labor cost they had.
$5000 per year for an engineer that would cost $100,000 here in the States, not counting health insurance and 401K benefits.

BTW, Joey Biden and John Kerry were on the Clinton team that brought us NAFTA and the G-8 trade agreements that sent US companies out of the nation. Ross Perot predicted this would happen.

 

[Fantine]

and US jobs fled the US and we didn't feel the pain of not manufacturing anything until the pandemic hit us.

I lost my job to China because we could not compete with the low labor cost they had.
$5000 per year for an engineer that would cost $100,000 here in the States, not counting health insurance and 401K benefits.

BTW, Joey Biden and John Kerry were on the Clinton team that brought us NAFTA and the G-8 trade agreements that sent US companies out of the nation. Ross Perot predicted this would happen.

I am sorry you lost your job. My husband went through tumultuous times in the 1990's as well. We lived in four different states over ten years and he had periods of unemployment that lasted up to nine months.

My youngest was an infant when our journeys across the country began, and between getting three children settled and adjusted and getting settled in a new environment, only to face another move, I spent the decade pretty much working in freelance writing and music gigs.

I don't look at his employment situations as having been affected by trade. There were other factors. Downizing, corporate takeovers, consolidations--often spurred by rapacious "investment bankers" (like Mitt Romney) who would buy companies, shrink them to nothing, and break them up for a fast profit. We survived, and survived well, I suppose, but eventually he lost his VP status and in his last company retired as a director.

But I also see that opening up free trade had some positive effects. People in Mexico aren't coming here anymore--because their standard of living has improved greatly (not as much as the US, but not fueling the desperation requiring immigration.) CAFTA, if we give it a chance, may do the same for the people in Central America. This is what God desires, for everyone on this planet to have access to at least the basic necessities of life.

Similarly, China and Southeast Asia have discovered the benefits of capitalism. They have large middle classes. In my son's visits to China, he sees the difference between Beijing (the bleak, Communistic capitol) and the vibrant economies in Shanghai (the fashion and financial center of China) and Hong Kong.

They don't want war. They want the fruits of prosperity.

Life can be hard at times--but a stronger social safety net helped protect you. Living in Massachusetts (as I believe you do) you have a stronger safety net than those stuck in the red states.

 

[JimR-OCDS]

I am sorry you lost your job. My husband went through tumultuous times in the 1990's as well. We lived in four different states over ten years and he had periods of unemployment that lasted up to nine months.

My youngest was an infant when our journeys across the country began, and between getting three children settled and adjusted and getting settled in a new environment, only to face another move, I spent the decade pretty much working in freelance writing and music gigs.

I don't look at his employment situations as having been affected by trade. There were other factors. Downizing, corporate takeovers, consolidations--often spurred by rapacious "investment bankers" (like Mitt Romney) who would buy companies, shrink them to nothing, and break them up for a fast profit. We survived, and survived well, I suppose, but eventually he lost his VP status and in his last company retired as a director.

But I also see that opening up free trade had some positive effects. People in Mexico aren't coming here anymore--because their standard of living has improved greatly (not as much as the US, but not fueling the desperation requiring immigration.) CAFTA, if we give it a chance, may do the same for the people in Central America. This is what God desires, for everyone on this planet to have access to at least the basic necessities of life.

Similarly, China and Southeast Asia have discovered the benefits of capitalism. They have large middle classes. In my son's visits to China, he sees the difference between Beijing (the bleak, Communistic capitol) and the vibrant economies in Shanghai (the fashion and financial center of China) and Hong Kong.

They don't want war. They want the fruits of prosperity.

Life can be hard at times--but a stronger social safety net helped protect you. Living in Massachusetts (as I believe you do) you have a stronger safety net than those stuck in the red states.

The small division I was working in, my responsibilities included transferring documentation to China. Also, the two, engineering managers sent all of their layout work over to China. I saw the writing on the wall and I believe they hoped that I would quit. Instead, they had to let me go with a decent severance package. I lost my health insurance and thank God I live in MA and got Romney Care at the time.