TRADE COSTS I am old enough to remember that when we went into debt of any kind we became more cautious concerning what we spent in that area. We set up budgets which caused us to question future expenditures. We often set levels beyond which we might not go. To exceed them was a sure invitation to severe trouble.
Should we be thinking along such lines regarding our constantly growing trade deficits with other nations? Are we placing our national well--being in danger when we continue to purchase far more products from other nations? We see the steady rise in both amounts and other costs. I have deep-set feelings which tell me that it is not in keeping with what they logically, ought to be. There is every indication that we might be spending ourselves into a poor house situation from which it will be difficult to free ourselves in the future.
We are talking about billions of dollars here, not chicken-feed change.
Just this morning I came across a note had written to myself on 4-03-01. In that note, suggesting I write something about the dangers of excess trade debts I was worried. I had come across a chart which showed how imported footwear alone from China and other areas overseas. Our department store shoe sections – with styles for men, women and children – both dress and sportswear types are now door-to-door, mostly wall-to-wall Chinese or Indian. The “Shoe Stores” are going fast. Any one such location looks pretty much like all the others.
China has moved in to our markets here in the United States aggressively and if you agree with view you are shocked, puzzled, and in loud favor of our government 'issuing protective legislation” to “put a stop to the invasion.” Others welcome the change with open arms, purses, checkbooks and credit cards. Some the causes of this entire change result from the fact that far too many American manufacturing firms decided to stay with their old, worn, obsolete and inefficient plants, procedures,and physical equipment. The German and Japanese moved into the American market quickly using the modern plants we helped them build. They entered strongly into both light and heavy areas. Latin American nations and other joined in, but the main thrust has been toward Asia.
Residents found them familiar, but a visitor just returned from China reports only one of these twenty one remains to be seen in seen in the streets today:”Coke”. Get ready to see Chinese products logo on your store's shelves. They're already here on the Internet.
A.L.M. February 14, 2006 [c445wds]
