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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (54320)	8/4/2006 1:39:28 PM
From: RealMuLan	Respond to of 116555

Very well said! -- "By going after China, Washington politicians are unwittingly taking aim on the mix of the US trade deficit, while doing absolutely nothing to reduce the magnitude of the overall external imbalance. Similarly, nearly two-thirds of China’s export growth over the past dozen years is attributable to “foreign-invested enterprises” -- Chinese subsidiaries of foreign multinational corporations and joint-venture partners. The very existence of these subsidiaries is an outgrowth of conscious decisions made by Western businesses -- an outgrowth of efficiency solutions implemented in the name of competitive survival. This is a very different development than unfair competition by indigenous Chinese companies. Politicians continue to ignore these macro sources of trade tensions. I guess it’s always easier to find a scapegoat than to look in the mirror."