Eagle Forum Legislative Alerts

Thursday, November 29, 2012

The Racket of 'Free Trade' with China

I hope that somebody is soon going to explain to the American people that what is called "free trade" with Communist China is a big racket. China is cheating us coming and going and doesn't play by any rules of so-called free trade. China limits U.S. access to its markets while stealing our designs, patents, know-how, technology, and the intellectual property that drives innovation. China has built up its economy by piggybacking onto Western technology. China manipulates its currency to the disadvantage of American exporters, excludes American products from government purchases, subsidizes Chinese companies to give them a commercial advantage, and invents regulations and standards designed to keep out foreign competition. The U.S. government has accused the Chinese of being the world's "most active and persistent" perpetrator of economic spying. Much of this spying is carried out in cyberspace, where vast volumes of data can be stolen in seconds. The chairman of the House Intelligence Committee says that China's industrial cyberespionage against the U.S. is "brazen and widespread theft of intellectual property."

Here is an excerpt from a letter to the editor of the Wall St. Journal from a businessman, Randy Rossi, a retired president of a global manufacturing company that did business with China. "I can tell you that China cheats like crazy and its cheating gives it a massive unfair advantage against U.S. manufacturing companies that follow the rules... China manipulates its currency, steals massive amounts of U.S. technology, disregards civilized rules designed to protect consumers and employees from personal injury and totally disregards global environmental standards. This cheating gives China a 40%-50% advantage over U.S. companies that follow the rules... I don't get defending the Chinese as they massively cheat against U.S. companies. Pretending that they don't is naivete beyond comprehension."

Listen to the radio commentary here:

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