Kucinich on China Trade Bill...and How the candidates voted

[slipslidingaway]

Links here
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x1777600


http://www.epi.org/content.cfm/bp188

"The U.S. trade deficit with China has increased from $50 billion in 1997 to $235 billion in 2006, an increase of $185 billion, as shown in Table 1. Between 1997 and 2001, prior to China's entry into the WTO, the deficit increased $9 billion per year on average. Between 2001 and 2006, after China entered the WTO, the deficit increased $38 billion per year on average."


http://kucinich.house.gov/Issues/Issue/?IssueID=1466#Other%20trade%20issues:%20Permanent%20MFN%20status%20for%20China

"...Furthermore, giving China permanent MFN will be harmful to the U.S. economy, since the record trade deficit with China (and attendant problems such as loss of U.S. jobs, and lower average wages in the U.S.) will worsen. For 2000, the trade deficit was nearly $84 billion. Now that China has been awarded permanent MFN and is close to WTO membership, the trade deficit will worsen. In a September 30, 1999 report, the U.S. International Trade Commission concluded that China's accession to the WTO would cause "an increase in the U.S. trade deficit with China".

Conclusion -- There was no legal requirement to award China permanent MFN. Permanent MFN will be a drag on the U.S. economy and has cost us the best leverage we have to promote justice in China and throughout the world."