MainLine Peace Action/DelMont PDA

August 29, 2010

Made In China!

Filed under: economics — Tags: , , , , , , — Walter Ebmeyer @ 2:15 pm

Richard Clark asks why Germany has avoided the Great Recession.  It goes back, like so much else, to the administration of Ronald Reagan.  During his first term, as a gift to his corporate pals, he pushed through legislation that made it possible for US corporations to do their manufacturing overseas in low-wage countries (like China) but avoid taxation on the imported products.  Germany never did such a thing.  So over the last 25 years, we’ve lost factories, middle class jobs, and tax income while the corporations have grown richer and richer.  This is a terrific article, well worth your time.  The car on the left is China’s newest offering to the US market.  Not built with UAW wages you can bet.

http://www.opednews.com/articles/Why-is-America-suffering-s-by-Richard-Clark-100828-74.html

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