On his Monday version of China bashing, Lou Dobbs interviewed Tim Ryan, a member of the Congressional Manufacturing Caucus. Lou twice said that trading with China represented “idiotic policies”. Trade protectionist Ryan advocated sanctions of China for exporting goods to places like Europe, Japan, and the United States and then made this claim:
the only people really benefiting from this are the top 1 percent, or if you’re participating in a multinational corporation.
Congressman Ryan forgot to mention American consumers benefit from free trade. He forgot to mention Chinese workers benefit from being able to sell products abroad. And lest we forget that American workers in the export sector benefit from free trade, an amazing bit of wisdom was uttered by trade protectionist Lou Dobbs:
And just maybe, congressman, maybe, corporate America which is so concerned about product activity on the part of workers in this country, their education, their capacity – they did pretty well four years ago through the entire decade of the ’90s and about 200 years before that. Maybe they’ll learn how to produce something they can sell abroad, because our exports are falling faster than we can see imports…
I have been hard on Mr. Dobbs for his mercantilism, so I should admit that he closed this rant on a good note!