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Dan DiMicco: Getting The Country Back On Track | Mad Money | CNBC
Dan
Dan DiMicco: Getting The Country Back On Track | Mad Money | CNBC
Dan
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1 Comment
Separate of the politics, there are real reasons to be concerned about more FTA's fostered by any President. During the era of free trade there has been a lot of good that has come from it but there has also been a lot of harm. The issue that is ignored by supporters is that we should be focusing on the NET benefits of these FTA's. When we do, we quickly see that there has been a huge NET negative. Why? Mostly because global trade has moved not to free trade but to trade Mercantilism and gov't managed Trade. Some of the more negative results include: an accumulated TRADE DEFICIT of over $10-11 Trillion during the past 25 yrs.; A massive, Millions, NET loss in good paying jobs; The demise of our Middle Class; and a massive loss of our Manufacturing sector , from over 20% of GDP to ~11%, and a future national security problem as we are losing our ability to supply our own military needs. These are all facts not fiction.
This is what results when the discussion put forward by supporters only focus on the benefits of exporting and not: 1- what the partners to these agreements do to undermine our exports after agreements are signed and 2- what they do to undermine our domestic based manufacturing by extreme mercantilist trading practices, predatory pricing, and nonexistent enforcement and follow up by us. The last American administration and Congress to get it right on trade was that of President Reagan/ Tip O'Neil, and their actions/policies of the mid 80's. Reagan was quite clear on this! He was for free trade BUT only if it dud not result in undermining Americans businesses at home and American workers. Republicans need to really study the true Reagan legacy on trade not what has been distorted to extremes by special interest groups. Please, as a Reagan Republican, I challenge you to go back to "Rules based and Enforced" Free Trade for the future of our Country, and the World. President Reagan gave a speech that established the principle of “free and fair trade with free and fair traders.” More specifically, he established the 3 R’s: Rules, Reciprocity and Results. “Rules” mean that the trade must be rules based and every nation should follow them. “Reciprocity” meant that there will be a reciprocal reduction in tariffs, quotas and other barriers rather than one-sized reduction. “Results,” the point forgotten most, meant that America must gain a net benefit from trade arrangements rather than being taken advantage of. Dan |
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