Monday, September 18, 2006

"It's China by a Nose over the U.S."

That's the headline from the New York Times, September 16, for the article written by Floyd Norris. Check it out.

China, my friends, is exporting finished goods - you name it, we buy it. They, on the other hand, import raw materials and then export the high value finished goods, called "value added".

Someone with a loud voice should tell our leaders (?) the difference.

In July, for the first time, China reported higher exports than the United States. Our $80.313 billion vs. their $80.337 billion. China's August figure showed an increase to $90.77 billion. Let's hope we wake up in time to avoid Armaggedon.

What's good for GM, Ford,Chrysler and the UAW is NOT good for America! Remember when Detroit was the economic bright light of the US? One in every 10 jobs in America was auto related. What remains will soon be a shadow of its former self. Detroit stil doesn't make cars that people want.

Those Chrysler commercials with the fuzzy little German prove Detroit still doesn't get it. It still comes back to leadership across the board. The American people deserve whatever disasters come our way. No excuses. Try reading "The Reckoning" by David Halberstam (circa 1987). It's all there.


Post a Comment

<< Home