Support Trump's Tariffs
China is purchasing vast amounts of land and numerous companies in the United States and they are using our own money to do it. How are they doing this? Trade deficits -- our ever-increasing trade deficit with China is transferring America's wealth to China. If you add the annual trade deficits with China alone for the past 20 years, it totals $4.22 trillion.
We Americans are selling off our ability to produce wealth by allowing many American corporations to be purchased by foreign corporations. Here are just a couple examples of what is happening:
We sold the world's largest pork producer, Smithfield Foods, to a Chinese corporation in 2013.
The Hoover brand was sold to Hong Kong, China-based firm Techtronic Industries in 2006.
In January 2014, Motorola Mobility was sold by Google to Chinese computer corporation, Lenovo, which means that the nation that invented smartphones is just about entirely out of the business of producing smartphones in America. Lenovo is the same company that bought IBM's line of personal computers in 2004.
Through strategic purchases, China is positioning itself to be our energy supplier as well. Since 2009, Chinese companies have invested billions of dollars acquiring significant percentages of shares of energy companies, such as The AES Corp., Chesapeake Energy, and Oil and Gas Assets. In 2010, China Communications Construction Co. bought 100 percent of Friede Goldman United, and in 2012, A-Tech Wind Power (Jiangxi) bought 100 percent of Cirrus Wind Energy.
It's time to wake up to the real dangers of our relationship with China. Letting Chinese corporations acquire American companies, especially energy or technology-based companies is the biggest threat to rebuilding American manufacturing.
Bella VistaEditorial on 04/11/2018
Print Headline: Support Trump's Tariffs