The move from corporate America into China. It highlights many of the things we've discussed at FMMF for years - how U.S. multinationals are the masters of the universe and how increasingly less important Americans are in the food chain. Further, how if you want to build a business in China you have to source in China, and use Chinese labor - completely different than the U.S. dynamic. Protectionist? Yes. Helps their citizens prosper? Yes.
Two examples -
GM sold 2M cars in China...95% were built in China. Profits? Shared with the Chinese government.
Mcdonald's is only allowed to use food grown by Chinese farmers.
Bigger picture it paints a story where U.S. corporations and shareholders benefit as sales surge overseas (i.e. net positive for stockholders, as sales surge) but aside from that specific niche of citizen, has less of a broad benefit on U.S. society because the items being sold are increasingly not made in the U.S. - hence the worker class does not benefit. (unless you are a 'trickle down economics' kind of theorist)
4 minute video
Trade is a win win for all parties correct? Well thus far millions upon millions of jobs have been exported out of the United States... in return estimates say the $70 Billion in goods exported to China have created 437,000 jobs in the U.S. To put in perspective, the U.S. has lost 6 million manufacturing jobs since the Ross Perot "great sucking sound" era. And we're not even talking the service jobs lost. But I suppose we get stuff cheaper at Walmart. Win win?
3 minute video
Of that $70 billion in exports 1 surprising state is grabbing a huge chunk, indeed about 9%. Washington State. See some of the smart things they are doing.
2 minute video
