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 11 years ago on Oct. 16, 2011, 7:41 p.m. EST by mac123
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
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.
James Goldsmith for.. something. Meh, he's not a citizen. :o( Really a must-watch video IMO.
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.
Now I know you didn't watch the video.
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?
He said if you get us into free trade with low wage countries there will be a world wide economic catastrophe.
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.
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.
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:
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.
I don't think you watched the video.