“Buying up the US, Chinese-style”
This is why our trade policy is destroying our Country! Can we keep selling off our Country?
Economist-Brad DeLong continues with the discussion on foreigners acquiring ownership of U.S. assets. How long before congress and the media realize what they should know already, that our “yawning external gap is inevitably financed only by selling off assets, which means that foreigners with money acquire ownership and control of US-based businesses,” and what will happen when they figure it out?:
Buying up the US, Chinese-style, by J. Bradford DeLong, Project Syndicate: When China National Offshore Oil Company tried to buy … UNOCAL two years ago, it set off a political firestorm in the US. When Dubai Ports World bought Britain’s P&O Steam Navigation Company, the fact that P&O operated ports inside the US led to more controversy.
One would think that a country like the US, with a current account deficit of roughly $800 billion a year, would realize that such a yawning external gap is inevitably financed only by selling off assets, which means that foreigners with money acquire ownership and control of US-based businesses.
June 4th, 2007 at 8:34 pm
You can just about guarantee that somebody in Washington is making money on these transactions.
June 4th, 2007 at 8:41 pm
Bill
Good Point!
June 4th, 2007 at 9:47 pm
Very smooth, Mr Konop!
Cite one highly respected economist (now at my alma mater, Berkeley).
Cherry pick one blog.
Sift through all the other examples cited to get to the one you just can’t help bashing (China was fourth on the list, between Singapore and Norway).
And then, after 10 paragraphs of Brad DeLong quoting ANOTHER economist (Stephen Jen), completely omit the ONLY relevant point:
—“I’m not too concerned by this.”
Spin until done and serve to confuse.
.
In “All the President’s Men,” the tag line was “follow the money.”
In KonopWorld, its “check the source.”
June 5th, 2007 at 5:41 am
David
BTW as you know many econmist also have made the same point Brad Delong is making! In fact some have made comments on this site as you know!
BTW if I gave the link to the article and used the title from the economist who wrote it, how could I be cherry picking?
Want take time and tell us why you think economist like Brad Delong is wrong?
June 5th, 2007 at 6:00 am
David
If foreign corporations succeed with the NAFTA Superhighway
(SHAFTA Supersh-tway) then we’re going to have our country cut into segments by an international zone 10 miles wide surrounded on both sides with chain link fence. So it looks like the globalists like fences after all in some cases. Also do you understand the military significance of foreign corporations owning our ports and highways? Also do you ever have anything bad to say about China? Because you’re in a great area (Hong Kong) to offer some constructive criticism.
June 5th, 2007 at 9:11 am
Nice catch David. John notoriously cherry picks doom and gloom stories, especially if the writer mentions China or Mexico.
June 5th, 2007 at 9:23 am
Bart
No facts just spin!
Now you are the same side as liberal Don and David!
June 5th, 2007 at 11:00 am
John,
That should be your disclaimer included with every post…”no facts, just spin”.
BTW, you are on the same side with kooky Dennis Kucinich re: NAFTA / CAFTA / Iraq and from the same state.
Watch this video if you want to see a real nut in action:
http://hotair.com/archives/2007/06/04/hot-air-video-a-liberal-math-lesson-with-dennis-kucinich/
June 5th, 2007 at 4:16 pm
Bart
Kucinchich does not support the Biden plan in Iraq!
As far as trade many real conservatives like Hunter, Jones, Gingrey….. do not support NAFTA, CAFTA, WTO CHINA….
I gues they are not bought ans sold by special interest like TOM PRICE!
June 5th, 2007 at 8:46 pm
Mr Konop,
Given the very strong bias around here, there isn’t much point in my trying to educate people on global flows of goods, services and capital; or on the economics of manufacturing production site selection. I’ve been there, I’ve done that, but I make it a practice to avoid talking over the heads of my audience. Tends to put them to sleep.
If you’re really interested, click on chamber. org. hk
Anyway, thanks for the offer.
= = = = = = = = = = = = = = = = = = = =
Bill,
What are you on about?
Why would anyone build a 10 mile wide zone anywhere?
What is “an international zone” ?
What makes you think there is a “globalist” plot to sell fencing materials?
What is the military significance of shareholder nationality?
What nationality is a corporation? By which percent, and why?
.
With all the ignorant China-bashing going on around here, why would I want to abandon everything I’ve learned and done in my adult life, to join you?
.
Seriously, being “accepted” around here isn’t all that important to me, so if that’s what’s required it is going to be a long wait.
.
I know China and East Asia. I know this region better than anyone here.
I know economics, and I’m willing to say I haven’t seen any evidence anyone here understands it better than I.
If I may ask, what’s the foundation holding up your particular policy position?
.
June 6th, 2007 at 10:22 pm
David
The trans Texas corridor is a swath of land 10 miles wide. Also the Colorado Superslab is approx. 12 miles wide.
Here’s a map of the Colorado Superslab. But they’ve changed the name to prairie falcon express or something. David, you’re the globalist. So maybe you could tell us all why they want these wide “corridors” surrounding these super duper highways. Frankly we’re all just getting bits and pieces. Do you think there should be more of a national public debate with these issues?
June 6th, 2007 at 10:23 pm
http://www.cololegislativeinfo.com/images/Map.gif
June 6th, 2007 at 10:55 pm
re:
“If I may ask, what’s the foundation holding up your particular policy position?”
Well That would take a few paragraphs or a book. (4th grade level of course)
June 7th, 2007 at 9:00 am
David
Give your sale pitch to the 4.1 million factory workers out of jobs!
June 13th, 2007 at 8:24 am
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