I wrote a piece for Forbes explaining that contrary to what many analysts say, the enormous investments in infrastructure in China will be good for the economy and also visionary on the part of China’s leadership: http://www.forbes.com/sites/annlee/2012/07/22/why-chinas-high-investment-levels-wont-hurt-them/
The Chicago Tribune writes about the pitfalls of the EB-5 visa program and quotes my opinion about the state of its execution thus far.
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
In a recent piece published on the MSNBC website, http://www.msnbc.msn.com/id/45614308/ns/business-world_business/#.Tua1aXJSn6A, the journalists insinuate that developing a working partnership with China cannot work. Their presentation of the arguments, however, are very one-sided (surprise, surprise). Below is what they fail to mention:
“But Made in China has hastened the decline of U.S. manufacturing. Factory jobs have shrunk in number by 25 percent the past decade to 11.5 million today, and average factory wages adjusted for inflation have virtually stagnated.” No, factory jobs have been declining everywhere in the world, including China, because technology advancement is replacing humans in virtually every sector where repetitive activity exists. Average factory wages may have stagnated, but so have wages in most sectors in the U.S., even if they’re not outsourced. Continue reading