PERMANENT NORMAL TRADE RELATIONS STATUS WITH CHINA LEGISLATION

Permanent Normal Trade Relations Status with China (PNTR) legislation continues unfair trade practices with China on a permanent basis; around a quarter of a trillion dollars from 1988 to 1997. That trade deficit with China translates into the loss of tens of thousands of potentially good paying manufacturing jobs for us American laboring class people. In the month of January 2002 alone there was 390,000 new unemployment claims filed in the U.S., and another 483,000 in April; at the same time companies were also reducing the hours of those working; all of which contributed to the 18.5 million users of Food Stamps. Incidentally and indecently, over 60% of the US workers are not even covered by unemployment compensation benefits.

The trade deficits contributed to corporate profits plummeting, along with skyrocketing defaults and bankruptcies soaring to a historical high of 1,253,444 in 2001. All of which contributed to American household debts climbing to the historical high of $7.6 trillion. Trade deficits, along with costing American jobs and weakening our economy, also weakens our national defense base as the nation becomes dependent on foreign produced products. Trade deficits provide foreign investors with US currency with which to buy our American assets, a legacy that should be part of the American heritage we leave to our children and grandchildren. Reportedly, there was around $900 billion European investments made in acquiring American assets in 2000 alone; leaving almost 4 million American workers working for European investor owned companies.

Something is tragically wrong when only 2% of our exports go to China, a country which exported a $100 billion into the US in 2000 alone. Much of our nation’s disastrous unsustainable $444.7 billion trade deficit in 2000 (as recent as 1980 the US had a $17 billion trade surplus), which was over 39% higher than the previous years record high. This hideous trade imbalance with China is likely to grow even more disastrous due to the passage of the PNTR legislation. The US has suffered more than $400 billion, and growing, trade deficits with China since 1989. Though trade policy, the US is giving China billions of dollars a year in what virtually amounts to foreign aid; foreign aid which is draining away American wealth at an astronomical rate, and destroying the middle class laboring people in our society, weakening our democracy, and diminishing our nation’s influence in world affairs. Some calculations indicate that trade deficits with China are responsible for at least $320 billion in national income loss, more than $125 billion in lost tax revenues, and over 4 million American jobs. All of this at a time when America is experiencing an economic recession, and increasing federal budget deficits. While all this is happening the Wall Street bankers, global financiers and multinational industrialists, the economic royalists of the New World Order are clamoring for more of the same, and their campaign contribution bought and controlled Washington puppet politicians are eagerly complying.

In recent years our hideous National Debt has tripled. Just since 1980 the US has gone from the world’s greatest net creditor to the world’s greatest net debtor nation. With trade imbalances being a major contributing factor, our National Debt is now costing us US taxpayers a billion dollars a day in interest payments alone, 40% of which goes to global financiers-many of whom are disciples of the New World Order, the evil empire Imperial Gods of the Global Economy.

The United States is the biggest debtor nation in the world, as evidenced by the $1.8 trillion owed to foreigners; at the present rate of foreign debt escalation, within ten years our foreign debt could rise to 50% of our National Gross Domestic Product, all of which is a harbinger of a national economic catastrophe in the making. Incidentally, in 1972 the trade deficit was a mere 0.5 % of our National Gross Domestic Product, in 2000 it was 4.5 %.

Indeed, with the passage of the PNTR with China legislation Congress is giving China the equivalent of billions of dollars in foreign aid at the expense of us Americans. Our nation’s ballooning trade deficits with China accounts for losses in production, income, wealth, higher living standards, savings, capitol formation and tax revenue. Imports from China are made under conditions not subject to American law, nor do the Chinese workers pay a penny into our Social Security and Medicare programs, or into US school districts, streets, highways and defense funds.

Foreign direct investment in China in 2001 was almost $47 billion, up 15% from 2000. Traitorous American corporations that build factories in China to make goods to send into the United States are evading US laws and taxes. The Permanent Normal Trade Relations Status with China legislation was bought from Congress with a reported $113 million (how much more was spent unreported?). The $113 million lobbying effort is a fee that nearly quadrupled the $22.8 million they paid to buy N.A.F.T.A. from the New World Order controlled traitorous Washington puppet politicians.

For American corporations to build factories in China, or any other country, to make goods to be sold in the United States is an act of treason against us American laboring class people. And what are those corrupt, New World Order controlled, campaign contribution bought and paid for, Washington puppet politicians doing about it? They are giving the traitors special tax breaks to assist them in their acts of treason. All the while, China is laughing all the way to the bank, while the corrupt traitorous Washington puppet politicians are mortgaging our children’s and grandchildren’s futures through colossal and tragic trade deficits; no country can continue so much deficit spending without eventually triggering depreciation of its currency and contraction of its economy.

Indeed, when only 2% of our exports go to China, while 40% of China’s exports come into the US, there is something drastically and tragically wrong. Incidentally, what kind of products does the US export to China? Mostly hi-tech manufacturing equipment and technology that will be used by the Chinese human rights denied, low wage workers (around $350 a year per capita income, with some workers getting as little as 17 cents an hour while making products for American markets). Trade unions are banned in China. Indeed, the Chinese buy American technology and manufacturing equipment to use to produce even more products to export into the United States, virtually unrestricted, thanks to our New World Order dominated government’s global “free trade” policies, as administered by the World Trade Organization; free trade policies that are causing America to lose its national defense base and sovereignty by being dependent on foreign products.

The Washington puppet politicians version of “free trade” is, in reality, corporate managed trade that controls our basic freedom to make choices about our government’s management of our nation’s economy and commerce. The “free trader’s” corporate managed global market place is simply a set of rules that benefit large multinational corporations, Wall Street bankers, and global financiers at the expense of the consumers and democratic principles. Under corporate managed “free trade” agreements democratic governments lose more and more of their power to make important choices about health and safety, the environment, and labor conditions, indeed, their national sovereignty. In order to combat corporate “free trade” exploitation we must have, as our nation’s founding fathers did, a system of tariffs. Tariffs are taxes on imports which protect domestic industry while providing a national revenue. Tariffs equalize the costs at our border’s edge.

Corporate economic globalization is not free trade but corporate managed trade; global rules that are written into trade agreements, and enforced by the New World Order’s constructed and controlled World Trade Organization. World Trade Organization agreements protects corporate profits not people, investments but not the environment; thus making the world safe for globalization rather than making globalization safe for the world.

In truth, the Permanent Normal Trade Relations Status with China legislation is not only about cheap labor and environmental exploitation, but it is also about the New World Order extending into China the nefarious, corrupt, subversive tentacles of their shadow ONE WORLD GOVERNMENT.

Your contribution to Vic Roberts for US Senator is an investment toward a strong voice in the US Senate for immediate and permanent repeal of the Permanent Normal Trade Relations Status with China and all World Trade Organization agreements. Your contribution is an investment toward political leadership for the common good of our citizens, and the general welfare of our great nation; representation for the demise of the New World Order’s evil empire.

In the words of a great lady, Mother Jones, "Let us pray for the dead but fight like hell for the living.”

Vic Roberts IL (2004) US Senate candidate

Click here to send email to Vic Roberts: vicforcongress@chipsnet.com

The text of this web site is a direct communication from Vic Roberts, Congressional candidate.

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