It may be news to most American politicians, but fighting against trade with China is fighting against capitalism
Houston, TX (PRWEB) April 17, 2006
Chinese President Hu Jintao visits Washington this week as President Bush and Congress gear up to push trade penalties on China. Jim Trippon, editor-in-chief of the China Stock Digest asks "What are they thinking?" Click Here to subscribe to Jim's free e-zine "China Market Week.
From 1948 and 1987, America spent over $6.5 trillion to fight the Cold War, according to the Cato Institute. "The U.S. won that war in 1987 when China adopted capitalism" says China expert Jim Trippon. Instead of Demonizing China, says Trippon, "American Politicians should be dancing in a Conga Line because of China's embrace of American style capitalism." Trippon says "Congress and the President are being "bad winner's"."
The U.S. trade deficit has reached an all time high of $726 (B) Billion, and the majority of that deficit is due to America's import of foreign oil. Trippon points out that "although $202 (B) Billion of the U.S. trade deficit is with China, since 1997, U.S. exports to China have soared by 145%." China Stock Digest Editor-in-Chief Jim Trippon says, "American exports to China have been growing at a rate that is seven times faster than U.S. exports to the rest of the world. This is not a time to start a trade war with the Chinese. This is a time to continue our strong export growth to Asia and begin to trim our bloated trade deficit."
While China remains a Communist country, its leaders are embracing a more and more capitalistic approach to business. "It may be news to most American politicians, but fighting against trade with China is fighting against capitalism," Trippon said. So why have Senators Byron Dorgan (D) and Lindsey Graham (R) proposed a bill meant to embarrass the Chinese by forcing an annual vote on their permanent normal trade relations status?
Worse yet, Senators Graham (R) and Charles Schumer (D) have proposed a bill punishing China with a 27.5% levy on imports. Why would these Senators want to punish the Chinese when U.S. trade with the Chinese is one of our few success stories? According to Trippon, "Perhaps it is because they are more interested in politics than progress." Trippon, whose brother John just returned from combat duty as an infantry officer in Iraq, finds irony in the fact that "politicians decry the loss of American lives to bring democracy to Iraq but refuse to celebrate the establishment of American style capitalism in China, which occurred without a single shot being fired."
Trippon predicts that anti-Chinese political rhetoric will rise to a crescendo as Washington prepares for a visit by Chinese President Hu Jintao this week.
Jim Trippon is America's foremost authority on China investing, using proven investing techniques and principles. A former Price Waterhouse CPA, who has worked inside China, Jim has invested in China's financial markets for years. His team of financial journalists is based in Hong Kong, Shanghai, Taipei, and Beijing. Jim serves as Editor-in Chief of China Stock Digest, from its offices in Hong Kong and Houston. Jim, a best-selling author and a member of the Shanghai Foreign Correspondents Club, is frequently quoted in the press and speaks at major investment conferences. His next speaking event will be in May, 2006 at the Las Vegas Money Show.
Click Here to subscribe to Jim's free e-zine "China Market Week." The China Stock Digest is a monthly publication that helps individual investors profit from China's rapid economic growth. Jim Trippon is available for expert commentary by request. For more information or to schedule an interview with Jim Trippon, please visit http://www.chinastockdigest.com or contact Amal Zaid at (713) 661-3806.
# # #