Tuesday, September 18, 2012

Obama's views on Chinese trade make no sense

The week President Barack Obama complained that China is subsidizing some of its automobile exports, and this government funding breaks competition.

Keep in mind is the same president who bragged about bailing out the incompetent General Motors automobile company during the State of the Union address and put a $7,500 tax credit on the American-made Chevy Volt. He even toyed with the idea of raising that amount to $10,000.

Previously, President Obama howled that China was being unfair when it subsidized solar panels and slapped tariffs on the imports, even though he had made subsidizing and tax breaks to American "green" energy companies a central plank in his campaign. He also supported Quantitative Easing 2 after accusing China of manipulating the trade value of the yuan.

President Obama's views on international trade with China make as much sense as chocolate-covered dog treats. All three foot-stomping episodes were example of Chinese taxpayers subsidizing the purchases of American consumers, but he treated them as acts of war.

Granted, I'm used to ignorance of international trade being part of public policy, but did the O-man really have to go the extra mile and mix hypocrisy in too?

About 15 years ago liberal economists like Larry Summers and Paul Krugman would be ridiculing these oafish episodes. Today, they sit quietly on the sidelines out of fear of harming the progressive movement even while the president trips over his own clown shoes.

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