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Bill Clinton and American Financiers Armed China

mattstoller.substack.com

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Re: Bill Clinton and American Financiers Armed China

#11

Post by the_resistence »

mc32 wrote: post #10

It was MFN classification and the fast tracking into the WTO that enabled this result: hollowing out of American manufacturing, wage stagnation for blue collar workers resulting in economic instability which in turn had an effect on health and substance abuse. And of course “wage gap” everyone laments. People like bringing up good old Ronald Reagan, who had faults and was simplistic about the economy, but Clinton (as…

Don't forget to add Rubin, Goldman Sachs, and the whole kabal. Someday the truth will really come out how they destroyed the US while enriching themselves beyond all belief.

Re: Bill Clinton and American Financiers Armed China

#12

Post by RachelF »

devoply wrote: post #5
president wrote: post #2

Glad this subject is starting to see light. China's totalitarian rise is due to America's own internal corruption, political deadlock, and inability to grasp reality.

Greed. Western greed. Need for more power and money without doing hard work. Arrogance and thinking that their position is somehow special because of their culture, where freedom of speech has been actually shown to be bullshit. The same sort of tools that China is criticized for using are slowly creeping into the Western countries as well... etc. etc. You can write a book about it.

Someone has written a book about it. The Chinese government threatened to sue the Australian publishers, so they dropped it.

Eventually the book, "Silent Invasion", found another publisher: https://www.goodreads.com/book/show/36586726-silent-invasion

Re: Bill Clinton and American Financiers Armed China

#14

Post by hcknwscommenter »

mc32 wrote: post #10

It was MFN classification and the fast tracking into the WTO that enabled this result: hollowing out of American manufacturing, wage stagnation for blue collar workers resulting in economic instability which in turn had an effect on health and substance abuse. And of course “wage gap” everyone laments. People like bringing up good old Ronald Reagan, who had faults and was simplistic about the economy, but Clinton (as…

I feel like this is very unfair. In my narrative, the Clinton administration saw the writing on the wall. Jobs would be outsourced regardless. The win-win was to get China into the global economy ASAP and retrain the displaced workers. What happened instead was that retraining budgets were unnecessarily thin because the GOP-lead congress cried "socialism" and funneled all that reduced budgetary outlay to for-profit colleges.

Re: Bill Clinton and American Financiers Armed China

#16

Post by taobility »

madengr wrote: post #7

This was all known during the Clinton administration. Lot of good it did then.

This is not surprise at all. Even Clinton didn't do that, other president would it as well, since US politician just have a long sight no longer than 4 years or 8 years. And what they care most is the vote, and the party's interesting, instead of the country or the majority's benefit.

Re: Bill Clinton and American Financiers Armed China

#17

Post by trianglem »

mc32 wrote: post #10

It was MFN classification and the fast tracking into the WTO that enabled this result: hollowing out of American manufacturing, wage stagnation for blue collar workers resulting in economic instability which in turn had an effect on health and substance abuse. And of course “wage gap” everyone laments. People like bringing up good old Ronald Reagan, who had faults and was simplistic about the economy, but Clinton (as…

Those jobs were going to be outsourced either ways. There was no way the US could compete with Asian labor prices. It wasn't just the US either, it was most of the developed world.

Re: Bill Clinton and American Financiers Armed China

#19

Post by ChainOfFools »

trianglem wrote: post #17
mc32 wrote: post #10

It was MFN classification and the fast tracking into the WTO that enabled this result: hollowing out of American manufacturing, wage stagnation for blue collar workers resulting in economic instability which in turn had an effect on health and substance abuse. And of course “wage gap” everyone laments. People like bringing up good old Ronald Reagan, who had faults and was simplistic about the economy, but Clinton (as…

Those jobs were going to be outsourced either ways. There was no way the US could compete with Asian labor prices. It wasn't just the US either, it was most of the developed world.

indeed, the cheap labor source was always there, for at least a century. What changed? Cheap shipping. as in 90-99% reduction in overseas freight costs within less than two decades. blue collar workers can thank the humble intermodal shipping container and its systems integration refinement by malcolm McLean for much of their plight. oceans became lakes almost overnight.
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