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Economist Peter Navarro Accuses China of Unfair Trade Practices
Howard Richman, 6/22/2011

In an op-ed in the LA Times 6-21-11, UC Irvine business economist Peter Navarro, co-author with Greg Autry of the new book Death by China: Confronting the Dragon — A Global Call to Action, had an op-ed in the LA Times yesterday about China's unfair trade practices (How China unfairly bests the U.S.). Here is a selection:

The most potent of China's "weapons of job destruction" are an elaborate web of export subsidies; the blatant piracy of America's technologies and trade secrets; the counterfeiting of valuable brand names like Nike and Chevy; a cleverly manipulated and grossly undervalued currency; and the forced transfer of the technology of any American company wishing to operate on Chinese soil or sell into the Chinese market.

Navarro points out, as we have been doing, that if America doesn't address the trade deficits, no amount of tax cuts or government spending increases will solve our economic problem. He concludes by calling for a candidate who will adress America's trade deficit with China:

Given America's structural problem with China and absent constructive trade reform, our economic prospects can only dim further. The presidential candidate who grasps that essential truth, which is becoming increasingly understood by much of the electorate, will be the one who wins in 2012. We need someone who can lead this country to a trade relationship with China founded on the American ideals of free and fair trade rather than a set of mercantilist and socialist trade policies that employ the Chinese masses at the expense of American workers.

So far, only one potential presidential candidate, Governor Sarah Palin, has called for balanced trade. She is the only candidate, at the moment, whose economic plan would produce an economic recovery. And, not only that, according to the latest YouGov Presidential Poll, even though she has not entered the race, she is the top polling Republican candidate at the moment. Here is how the Republican vote currently breaks down:

  • Palin 20%
  • Romney 14%
  • Giuliani 11%
  • Perry 8%
  • Cain 7%
  • Gingrich 5%
  • Paul 5%
  • Bachmann 5%
  • Pawlenty 4%
  • Santorum 3%
  • Huntsman 2%
  • Roemer 1%
  • No preference 15%

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Comment by Peter Navarro, 6/23/2011:

Thanks for the shoutout.  I'm actually a big fan of your blog.


Comment by Jaiper Feliciano, 12/19/2013:

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    Wikipedia:

  • [An] extensive argument for balanced trade, and a program to achieve balanced trade is presented in Trading Away Our Future, by Raymond Richman, Howard Richman and Jesse Richman. “A minimum standard for ensuring that trade does benefit all is that trade should be relatively in balance.” [Balanced Trade entry]

    Journal of Economic Literature:

  • [Trading Away Our Future] Examines the costs and benefits of U.S. trade and tax policies. Discusses why trade deficits matter; root of the trade deficit; the “ostrich” and “eagles” attitudes; how to balance trade; taxation of capital gains; the real estate tax; the corporate income tax; solving the low savings problem; how to protect one’s assets; and a program for a strong America....

    Atlantic Economic Journal:

  • In Trading Away Our Future   Richman ... advocates the immediate adoption of a set of public policy proposal designed to reduce the trade deficit and increase domestic savings.... the set of public policy proposals is a wake-up call... [February 17, 2009 review by T.H. Cate]