In his State of the Union Address President Obama had this to say about China:
Tonight, I’m announcing the creation of a Trade Enforcement Unit that will be charged with investigating unfair trade practices in countries like China. There will be more inspections to prevent counterfeit or unsafe goods from crossing our borders. And this Congress should make sure that no foreign company has an advantage over American manufacturing when it comes to accessing finance or new markets like Russia. Our workers are the most productive on Earth, and if the playing field is level, I promise you – America will always win.
Now, I don’t endorse counterfeit goods, but counterfeit and unsafe products coming from China constitute a very small percentage of the industries that affect US employment. According to the United Nations on Drug and Crime, in FY 2009, mainland China was the source of $205 million worth of goods seized in the United States. However, the size of the U.S. economy is over $14 trillion. Continue reading