Filed under: International markets, Bad news, China
Palm Bay, Florida has cracked open Pandora’s box by considering a motion that would prohibit the city from purchasing goods from China if the same goods are available from a U.S. source for no more than 150% of the price. The measure defines a Chinese good as one with 50% or more of its parts made in China, and does not include purchases under $50. The effect of such a move on our balance of trade would be negligible, but it is sure to ratchet up what I think will become a torrid political issue as we approach the 2008 elections. If our economy continues to meander toward recession, look for more and more fingers to point to the east as the cause of our economic woes. Of course, this argument is as clueless as the claim that Afghanistan and Columbia are responsible for our country’s drug problem. In both cases, we the American public have voted with our dollars about what we really want, like it or not. We want blow and cheap goods, even if they come at the expense of our fellow Americans’ jobs.
Continue reading No products from China for Palm Bay, Florida
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