Congress should pass a reciprocal trade law that says our trade barriers will duplicate the other nations. If a nation has high tariffs on a US import, we would have an equal tariff on their exports to us. Our current problems stem partially from our gross over consumption of cheap shit from overseas anyway. If the DVD player goes up $20, so be it.

The US has been on the forefront in the last 50 years to tell other countries to open up. Once open, US companies started entering the markets, crushing local companies. Any counteracts have been regarded by the US as unfair trade. Protection of markets was not allowed. The EU has consequently opened up already since long. Subsidies are very much limited, and closely watched by the commission. Other countries have opened as well, as consequence of WTO. Now, suddenly, when the US finds out it has not adopted itself to globalization, now suddenly free competition is bad? This is really hypocrysy at its best.

I hope Congress will have enough balls to tell the D3 to get lost and rearrange themselves through CH11. Any other solution is extremely unfair to other car manufacturers around the world which have cut in the last years their workforce, have developed fuel efficient cars which look nice and reliable and are therefore today in a position to simply compete better on their merits than the D3.

European Union’s antitrust chief Neelie Kroes admonishes [...] If his warnings are heeded…

HIS warnings???

Mein lieber Herr Schmitt, I think Frau Kroes would not appreciate being taken for a bloke.

HTH!

C.R.C.

Landcrusher – there is a lot of rabble-rousing sentiment bout all of the Big 2.5, especially in the Rustbelt.

B.S.. I politely disagree with you. Globalization is good. Overall, it has been great for people worldwide. For example you cite India. Wages are much higher for the average person and standard of living has been drastically improved.

“Prime Minister Narasimha Rao along with his finance minister Manmohan Singh initiated the economic liberalisation of 1991. The reforms did away with the Licence Raj (investment, industrial and import licensing) and ended many public monopolies, allowing automatic approval of foreign direct investment in many sectors…Since 1990 India has emerged as one of the wealthiest economies in the developing world; during this period, the economy has grown constantly, but with a few major setbacks. This has been accompanied by increases in life expectancy, literacy rates and food security.”

http://en.wikipedia.org/wiki/Economy_of_India

I disagree with all protectionist trade policies. That said, the system is skewed when countries don’t follow the same rules. It truly is the hieght of hypocrisy for Europe or China to cry foul over a bailout.

Whether we like it or not, it’s a global market. Protectionism is not a good policy. We all remember what happened last time the US decided to act unilaterally (hint: coalition of the willing MY ASS).

When our industry competes against some company with no pollution laws, or labor protections, they lose.

The local plant closes…the workers lose.

Your job is outsourced to Mexico, India or Haiti, wherever the population is poor and powerless.

Globalization was not in the best interests of the people. It was, however, a huge bonus to the ruling class.

It is a race to the bottom, and when you were on top, you have farther to fall.

China would applaud. They would immediately do away with any quotas on textile imports. Easy: They don’t have any.

http://www.businessweek.com/globalbiz/blog/europeinsight/archives/2008/11/push_for_europe.html?chan=globalbiz_europe+index+page_top+stories

Hmmm.

Congress should pass a reciprocal trade law that says our trade barriers will duplicate the other nations. If a nation has high tariffs on a US import, we would have an equal tariff on their exports to us. Our current problems stem partially from our gross over consumption of cheap shit from overseas anyway. If the DVD player goes up $20, so be it.