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Who Sent Jobs To China?

- July 16, 2012

Obama's Attack Belies Years Of Policies That Have Sent Hundreds Of Thousands Of U.S. Jobs To China

"President Barack Obama Is Preparing To Tell Ohio Voters That Republican Mitt Romney's Tax Proposals Would Spur Job Growth In Foreign Countries Including China." (Charles Babington, "Obama To Tout Auto Bailout, Tax Policies In Ohio," The Associated Press , 7/16/12)

BUT OBAMA BROKE HIS PROMISE TO CRACK DOWN ON UNFAIR TRADE PRACTICES BY CHINA

PROMISE: Obama In 2008: If China Is "Devaluing Their Currency To Make Their Goods Cheaper And Our Goods More Expensive And We're Not Challenging Them … Dumping Cheap Steel And Cheap Goods Into This Country Because They're Subsidized By The Chinese Government And We're Not Challenging Them, That's Just Not Fair. It's Not Right..." OBAMA: "If they're devaluing their currency to make their goods cheaper and our goods more expensive and we're not challenging them, if they're stealing our intellectual property, our copyrights and we don't say anything about it, we don't take them before the World Trade Organization, if they're dumping cheap steel and cheap goods into this country because they're subsidized by the Chinese government and we're not challenging them, that's just not fair. It's not right, and it's going to undermine our economic condition over the long term." (Craig Gilbert, "Candidates Berate China," Milwaukee Journal Sentinel, 4/14/08)

BROKEN: In May 2012, The Treasury Department Said That China "Did Not Meet The Definition Of A Currency Manipulator Under Its Standards." "The Treasury Department on Friday once again declined to name China a currency manipulator despite bipartisan calls for action from Congress. Treasury noted that China's currency has appreciated against the dollar since June 2010, and said it did not meet the definition of a currency manipulator under its standards." (JulianPecquet, "Treasury: China Not Manipulating Currency," The Hill 's "Global Affairs" Blog , 05/25/12)

The Washington Post : "China's Policy Has Probably Cost Americans Hundreds Of Thousands Of Jobs And Contributed To China's Destabilizing Pile Of Trillions Of Dollars In Reserves." "China's undervalued renminbi is a long-standing, bipartisan concern, and it is not a phony one: In pursuit of growth led by exports, China has held the renminbi down in relation to the dollar, rendering its goods artificially cheap in the U.S. market. The renminbi would gain about 20 percent against the dollar if it were allowed to float freely like other currencies, according to the Peterson Institute for International Economics. China's policy has probably cost Americans hundreds of thousands of jobs and contributed to China's destabilizing pile of trillions of dollars in reserves." (Editorial, "Breaking China? Last Thing Needed Is A Trade War," The Washington Post, 9/1/11)

Obama's Broken Promise Has Cost The United States Nearly Half A Million Jobs And Drawn Criticism From Even His Own Allies

Obama's Failure To Confront China Cost The United States 450,000 Jobs From 2008 To 2010. "American jobs have been shifting to low-wage countries for years, and the trend has continued during Obama's presidency. From 2008 to 2010, U.S. trade with China alone cost about 450,000 American jobs because of the growth of Chinese exports, said Robert E. Scott, a pro-labor advocate at the liberal Economic Policy Institute. That figure was less than in previous years, but the decrease was probably tied to the U.S. economic slowdown, which crimped demand for imports. 'I think he has walked away from the campaign commitments,' said Scott, the institute's director of trade and manufacturing policy research. 'He has done far too little to improve U.S. trade.'" (Tom Hamburger, Carol D. Leonnig and Zachary A. Goldfarb, "Obama's Record On Outsourcing Draws Criticism From The Left," The Washington Post , 7/9/12)

"Obama's Critics, Primarily On The Political Left, Say He Has Repeatedly Failed In Other Ways To Protect American Jobs From Being Moved Overseas" Including Confronting China. "While White House officials say they have been waiting on Congress to act, Obama's critics, primarily on the political left, say he has repeatedly failed in other ways to protect American jobs from being moved overseas. They point to a range of actions they say he should have taken: confronting China, reining in unfettered trade and reworking a U.S. visa program that critics say ends up sending high-tech jobs abroad." (Tom Hamburger, Carol D. Leonnig and Zachary A. Goldfarb, "Obama's Record On Outsourcing Draws Criticism From The Left," The Washington Post , 7/9/12)

Sen. Sherrod Brown (D-OH): "Once Again, The U.S. Treasury Department Has Given China A Free Pass When It Comes To Its Currency Manipulation." "'Once again, the U.S. Treasury Department has given China a free pass when it comes to its currency manipulation,' Brown said. 'While we're seeing American manufacturing rebound, China is stepping up its efforts in a number of critical sectors, including clean and solar energy, advanced manufacturing, and auto parts. Addressing China's currency manipulation is critical to our economic recovery and for job gains, and despite wide bipartisan support in the Senate for legislation that tackles this issue, the U.S. House has failed to act. Speaker Boehner should bring the Currency Exchange and Oversight Reform Act to the floor as soon as possible.'" (Press Release, "Treasury Giving China A 'Free Pass' On Currency Manipulation," Senator Sherrod Brown , 5/25/12)

  • Brown "Said Chinese Currency Manipulation Undercuts Ohio Products By An Estimated 25 To 40 Percent." "During a visit to HARCO hydraulic brake manufacturing plant Wednesday, Sen. Sherrod Brown, D-Ohio, said Chinese currency manipulation undercuts Ohio products by an estimated 25 to 40 percent, killing manufacturing jobs. Brown called on the House of Representatives to pass legislation that would allow penalties on currency manipulating nations to combat the loss of jobs." (Steve Bennish, "Chinese Currency Manipulation Undercuts Ohio Jobs, Sen. Brown Says," Dayton Daily News , 1/12/12)

Rep. Tim Ryan (D-OH) To Treasury Secretary Tim Geithner: "China Continues To Flout International Trade Laws By Manipulating Its Currency Value To Increase Its Trade Advantages. … This Is Completely Unacceptable. All That Our People Are Asking For Is A Level Playing Field." "In March, U.S. Rep. Tim Ryan, D-Niles, and Congressman Mike Michaud, D-Maine, drafted a letter to U.S. Treasury Secretary Tim Geithner and U.S. Commerce Secretary Gary Locke to address China's continued currency manipulation. 'China continues to flout international trade laws by manipulating its currency value to increase its trade advantages,' Ryan said. 'This is completely unacceptable. All that our people are asking for is a level playing field.'" (Editorial, "Cheating Robs U.S., Area Of Jobs," Tribune Chronicle, 6/15/12)

Robert Scott Of The Economic Policy Institute: "I Think He Walked Away From The Campaign Commitments." "'I think he has walked away from the campaign commitments,' said Scott, the institute's director of trade and manufacturing policy research. 'He has done far too little to improve U.S. trade.' According to a study by the U.S. Bureau of Economic Analysis, large American companies in 2010 barely added any workers in the United States, increasing their numbers by 0.1 percent, while they expanded their foreign workforce by 1.5 percent." (Tom Hamburger, Carol D. Leonnig and Zachary A. Goldfarb, "Obama's Record On Outsourcing Draws Criticism From The Left," The Washington Post , 7/9/12)

AND OHIO'S DEMOCRAT SENATOR SLAMMED OBAMA FOR OUTSOURCING TAXPAYER FUNDS TO CREATE JOBS IN CHINA

PROMISE: Obama Promised "Investing In Clear Energy" Will "Create Millions Of New Green Jobs That Can't Be Outsourced … So That We Can Make 'Made In America' Not Just A Slogan, We Want To Make It A Reality." OBAMA: "That's why we're investing in a clean energy economy that will free America from the grip of foreign oil and create millions of new green jobs that can't be outsourced. That's why I've named a new point person to jumpstart American manufacturing so that we can make 'Made in America' not just a slogan, we want to make it a reality." (President Barack Obama, Remarks At The AFL-CIO Convention, 9/15/09)

BROKEN: Senators Chuck Schumer (D-NY), Sherrod Brown (D-OH), Bob Casey (D-PA), And Jon Tester (D-MT) " Said That More Than Three-Fourths Of $2 Billion Spent On Wind-Energy Projects Supported By The Stimulus Package Had Gone To Foreign Companies." "The senators said that more than three-fourths of $2 billion spent on wind-energy projects supported by the stimulus package had gone to foreign companies. They said that effectively undercut the purpose of the stimulus program - formally known as the American Recovery and Reinvestment Act - which is to jump-start the American economy and create jobs here." (John M. Broder, "Senators Want 'Buy American' Rule In Stimulus," The New York Times' "Green," 3/3/20)

  • "The Obama Campaign Didn't Dispute That Some Stimulus Dollars Went To Buy Foreign Products…" "The Obama campaign didn't dispute that some stimulus dollars went to buy foreign products, but said the RNC and Romney attacks distort the record of stimulus spending and its positive effect on the U.S. economy." (Neil King, Peter Nicholas, "Obama Stimulus Program Sent Jobs Abroad, GOP Says," The Wall Street Journal , 7/10/12)

Brown: "Can You Imagine The Chinese Communist Party Passing A Stimulus Package And Importing Goods From The United States? Can You Imagine The Chinese Pushing For Spending Their Tax Dollars Buying American Goods? Of Course Not." SEN. BROWN: "Can you imagine the Chinese communist party passing a stimulus package and importing goods from the United States? Can you imagine the Chinese pushing for spending their tax dollars buying American goods? Of course not." (Sen. Chuck Schumer, Sen. Bob Casey, and Sen. Sherrod Brown, Press Conference, Washington, D.C., 3/3/10)

  • Brown: " Ten Years From Now, We're Going To Look Back And We're Going To Say: Why Did We Give Away Our Industrial Base? Why Did We Outsource Our Steel And Our Chemicals And Our Wind Turbine And Solar Panel Manufacturing?" " Ten years from now, we're going to look back and we're going to say: Why did we give away our industrial base? Why did we outsource our steel and our chemicals and our wind turbine and solar panel manufacturing?" (Sen. Chuck Schumer, Sen. Bob Casey, and Sen. Sherrod Brown, Press Conference, Washington, D.C., 3/3/10)

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