Friday, June 17, 2005
Frontline, Wal-Mart and Bill Clinton
I watched some of that "free TV" that my taxes go towards whether I like it or not, on that Public Broadcasting System. You know the one, that still subsidizes shows like "Sesame Street" and "Telletubbies" even though the creators of those shows rake in millions from merchandising? Now don't get me wrong, I'm a free market guy and they should be able to profit from it. BUT don't use tax money to subsidize especially programs like those.
But I caught a rerun of the Frontline hour devoted to Wal-Mart, and the job losses to China. And how Wal-Mart, to get the lowest price it can, encourages its other U.S. vendors and suppliers to set up business in China for the cheap labor. Per the Frontline piece, the average worker makes $100.00 per month - and they're eager and willing to do it. Now, Bill Clinton signed the China trade bill in October of 2000. Now, to be fair, many conservatives and the lefty's were for this, and I'm not saying that overall, extending the trade agreement is or was a bad thing on Clintons part. But the cry from the left about the job loss to China is only partially true. China has lost more jobs than the U.S., and this is from July 2004, basically a year ago. But they are adding service jobs at a rapid pace.
And consider this.
©2005
But I caught a rerun of the Frontline hour devoted to Wal-Mart, and the job losses to China. And how Wal-Mart, to get the lowest price it can, encourages its other U.S. vendors and suppliers to set up business in China for the cheap labor. Per the Frontline piece, the average worker makes $100.00 per month - and they're eager and willing to do it. Now, Bill Clinton signed the China trade bill in October of 2000. Now, to be fair, many conservatives and the lefty's were for this, and I'm not saying that overall, extending the trade agreement is or was a bad thing on Clintons part. But the cry from the left about the job loss to China is only partially true. China has lost more jobs than the U.S., and this is from July 2004, basically a year ago. But they are adding service jobs at a rapid pace.
And consider this.
China is rapidly losing manufacturing jobs in the same industries where the U.S. and other major countries have seen jobs disappear, such as textiles. Matthew Spiegelman, Economist at The Conference Board and co-author of the study, notes: The U.S. lost 202,000 textile jobs between 1995 and 2002, a tremendous decline by any measure. But China lost far more jobs in this sector - 1.8 million. All told, 26 of China's 38 major industries registered job losses between 1995 and 2002.
©2005
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