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Forum Post: This man warned of an economic catastrophe if we got involved with world trade back in 1994. Why did congress ignore him when he went before them and begged them not to do it.

Posted 12 years ago on Oct. 16, 2011, 7:41 p.m. EST by mac123 (64) from Canton Township, MI
This content is user submitted and not an official statement

Please watch this video and find out why. : http://video.google.com/videoplay?docid=5064665078176641728



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[-] 2 points by genanmer (822) 12 years ago

It stood in direct contradiction to profit.

In a monetary system, Money and it's acquisition is always the most important value of it's society.

[-] 1 points by an0n (764) 12 years ago

James Goldsmith for.. something. Meh, he's not a citizen. :o( Really a must-watch video IMO.

[-] 0 points by laguy (110) 12 years ago

It is not world trade that was the problem, but trading with nations that are 4 times the size of the US, namely China and India, that caused the problem of rising competitors, that will soon dominate the planet and kick the US out of its top dog position to number 3. Smaller nations with market access to US and EU become allies like Japan and 4 Asian tigers, larger nations like China and India keep growing till they take over the world.

[-] 2 points by mac123 (64) from Canton Township, MI 12 years ago

Now I know you didn't watch the video.

[-] 1 points by laguy (110) 12 years ago

I cannot watch the video now, but I don't need to see the video to answer about world trade. What did he tell the congress?

[-] 1 points by mac123 (64) from Canton Township, MI 12 years ago

He said if you get us into free trade with low wage countries there will be a world wide economic catastrophe.

[-] 1 points by laguy (110) 12 years ago

But Japan was low wage when it entered global trade after Meiji restoration. South Korea, Taiwan, Singapore, Hong Kong, ASEAN countries like Indonesia, Thailand and Malaysia were low wage countries in the 60's. Their entrance did not cause world wide economic catastrophe. But when Soviet Union collapsed, both China and India entered global trade and today's problem is just a symptom of their rise. In 15-20 years, the US will become like Brazil and the EU will become like Latin America, resource rich countries with technology but little global influence, while China and India park their aircraft carriers in Gulf of Mexico and West coast. Unless we do something now, that day is coming soon. Please check out: http://www.themultitude.org/

Here we can discuss issues on world trade, this is an area of my research interest, although I do it as a hobby.

[-] 2 points by mac123 (64) from Canton Township, MI 12 years ago

I hope you watch it it will be a pivitol moment in your awarness of what has happened to us. If you agree please tell as many people as you can. The catastrophe happened because China and India are far too big to digest.

[-] 1 points by laguy (110) 12 years ago

I will watch the video, but I already know that opening up to China and India was bad for the world. I have a solution in mind, it is not protectionism, but dividing nations of the world into natural groups to fight the humongous size of China and India, so there is more trade between nations within these groups and between these groups, putting China and India in the last priority. These groups would be:

  • EU expanded to include US and Canada, Oceania and Russian speaking countries
  • Latin American Union
  • African Union
  • East Asian Union (expanded ASEAN including Japan and Korean peninsula)
  • Central Asian Union (from Pakistan to Turkey via Central Asia)
  • expanded GCC
  • Iraq and Iran etc.
[-] 0 points by blubee (12) 12 years ago

Is world trade not unlike interstate trade? Is interstate trade not unlike intercity trade? Isn't it all just the same thing on a larger scale? Even if it isn't, world trade wasn't the main cause of our economic catastrophe.

[-] 1 points by mac123 (64) from Canton Township, MI 12 years ago

I don't think you watched the video.