With so many perspectives on US economic news and economic trends that are available when you tune to your news network, how do you know who is telling the truth?
Economics is one of the areas that many Americans lack an educated understanding and are susceptible to talking points that are misleading. The purpose of this article is to share the insight of John V. Westberg, President of New Hope for America, who has years of experience in the manufacturing industry and international business.
As consumers we all get to participate in the U.S. economy. Looking at the products we buy, we see that a few are "Made in the USA", but the great majority are imported from foreigners manufacturers. For over thirty years now, we have been enjoying earning U.S. wages that have enabled us to buy large numbers of the low-priced imported products.
With our nation's free trade policies, U.S. retailers are permitted to place their new purchase orders with manufacturers in any country in the world. As a result U.S. retailers are participating in the sale of both the domestically made products and the imported products.
Recent US economic news tries to tell us that U.S. manufacturers, in contrast, are placed in a different "program" by our nation's "free trade" policies. They can only participate in the very small "domestically-made" portion of the U.S. economy. U.S. manufacturers are prevented from participating in the very large U.S. import market unless they close their U.S. factory and send their "jobs" overseas.
Many people try to label U.S. manufacturers as greedy, profit-hungry businesses because they have been sending so many jobs to China. Actually they have little other choice when their U.S. retail customers tell them that they will only buy their products from foreign manufacturers. U.S. made products are priced too high.
We must get U.S. manufacturers back into the complete U.S. economy. not left out as they are today
The theory of "free-trade" was sold to our Federal Government back in the early 1970's. Prior to this time, capitalism had served our nation well as it enabled the workers of America to produce the largest, and wealthiest middle-class the world has ever seen. When free trade was placed "on-the-back" of our capitalistic system, the manufacturers of America were unable to compete with the low-cost manufacturers of Asia.
Once the out-sourcing of our manufacturing base got started, it became harder and harder for U.S. manufacturers to keep their jobs here at home. We now have our GOP politicians trying to tell us that we need more"free-trade" agreements, but they intentionally leave off the last part of that statement, i.e. "so we can send more jobs to China". Free trade, after all, is the very "enabler" causing U.S. retailer's to send their purchase orders to China and other low-waged countries. When the "order" go to China, the "jobs" automatically follow. It's as simple as that!
GOP politicians try to tell the voters that the Socialism that the Democrats are pushing would be a disaster for America. This is true, yet, with a floundering economy, and millions of people out of work, we all can see that today's version of Capitalism is not working. Today's version of Capitalism is burdened with "free trade" riding on it's back, and is not working.
For a pro-growth solution to this problem please see our website:
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