Each year the people of the United States write a check to subsidize China, one of the most brutal, anti-American regimes in the world. Lately it has been in vogue for everyone in Washington to eagerly denounce the egregious abuses of the Chinese people at the hands of their communist dictators. Yet no one in our federal government has been willing to take China on in any meaningful way.
Each year the people of the United States write a check to subsidize China, one of the most brutal, anti-American regimes in the world. Lately it has been in vogue for everyone in Washington to eagerly denounce the egregious abuses of the Chinese people at the hands of their communist dictators. Yet no one in our federal government has been willing to take China on in any meaningful way.
Very few people realize that China is one of the biggest beneficiaries of American taxpayer subsidies. Thanks to the largesse of Congress and the President, China enjoys subsidized trade and the flow of US tax dollars into Beijing's coffers.
I offered an amendment before the House of Representatives last month that would have ended the $4 billion subsidy our nation quietly gives China through the US government's Export-Import Bank. The bank underwrites the purchases of goods and services by the Chinese government and others around the world. Unfortunately, only a minority of Democrats or Republicans supported my measure. Apparently, many members of Congress are happy to bash China, but don't mind lending her U.S. taxpayer money at sweetheart interest rates.
Some of your money went to fund a nuclear power plant in Shanghai owned by the China National Nuclear Corporation, a state-run company. Many US-based multinational corporations benefit directly from Export-Import Bank subsidies to China, including Boeing, Westinghouse, and McDonnell Douglas. So it's not hard to understand that business trumps the feelgood rhetoric condemning China.
There is no constitutional authority for Congress to make loans to any country, and certainly no basis for giving away the hard-earned cash of Americans to communist leaders who brutalize their women and children with forced abortions, and persecute Christians for their faith.
In reality, there is very little the federal government can do about conditions in China. Under our Constitution, the federal government simply does not have the authority to point a gun at Chinese leaders and force them to respect the principles of liberty. It just doesn't work that way.
I believe that by engaging the Chinese people, opening personal dialogue, and seeking to change their hearts and minds, we soon will see that regime collapse. The laws of economics dictate that a communist system cannot stand for long. But in the same way, I firmly believe there is a higher law which dictates that people exposed to the principles of liberty will not for long allow themselves to remain shackled to an oppressive government. Economic freedom, i.e. capitalism, now has a strong foothold in China. The Chinese people may soon demand political, religious, and personal freedom as well. But in the meantime let's stop sending tax dollars to support a government we claim to despise.
rate
email
print
link to this page
Comments: 12
Have you read "A Year Without Made In China?" It seems simple enough to go a year without buying things made in China - but it isn't easy to do.
OK, I understand that Dr. Paul is a hardcore free-market-loving libertarian and all, and that he sees their conversion to capitalism as the surest road to salvation for the Chinese people, but I'm sure he also knows that the US itself needed loans from other countries to become the great bastion of capitalism that it is today.
So the Export-Import bank guarantees loans for China, then China buy stuff from companies all over the US. More business for American companies means more jobs for Americans. So that's a good thing, right?
Meanwhile, in China, wages are going up, their middle class is growing, and according to Dr. Paul, those are just the conditions under which the Chinese are likely to demand more freedom.
What no links wil. How many of those countries loaned the US money while claiming to dispise us. The money given to China is not a loan it is an out and out gift with no obligation to pay it back.
I must be getting old I don't remember any countries loaning the US money to become a great baston of capitalism in my history books.
One of the problem we have with China right now is that they are NOT buying American goods as much as agreed. The "free trade" agreement with China as with other countries seems to be working only for their exports.
The Export-Import Bank of the United States claims that it despises China?
"I must be getting old I don't remember any countries loaning the US money to become a great baston of capitalism in my history books."
Maybe you read the wrong history books, Colonel. Did you by any chance read Financial History of the United States, by Dewey? Here's an excerpt:
"Funds were obtained either in loans or subsidies from the governments of France and Spain, and from private bankers in Holland. The first assistance came from France in 1776 in the form of a subsidy through the agency of Beaumarchais, over whose accounts the United States afterwards had a protracted dispute; and a small subsidy was secured from the Spanish treasury. Through the importunities of Franklin, France also granted subsidies of 2,000,000 livres in 1777 and 6,000,000 livres in 1781. In all, these sums which may be regarded as gifts, amounted to $1,996,500. Between 1777 and 1783 the United States borrowed from France, $6,352,500; Holland, $1,304,000; Spain, $174,017, -- making a total of $7,830,517. Attempts were early made to obtain loans to be repaid in France, secured by the exportation of goods from America, particularly tobacco; but the danger of capture by English cruisers broke this policy."
"The money given to China is not a loan it is an out and out gift with no obligation to pay it back."
A gift from a bank? I got a free calendar once, but other than that, not even a toaster. I checked out the Export-Import Bank's website but I couldn't find the section about them giving away money. Got a link?
I did find the section on their website that shows all the companies in the US that the Export-Import bank has helped over the last 5 years. Here's a link.
One of the problem we have with China right now is that they are NOT buying American goods as much as agreed. The "free trade" agreement with China as with other countries seems to be working only for their exports.
The US doesn't have a free trade agreement with China, so I'm not sure what you're talking about when you say they're not buying as much as they agreed to. What did they agree to buy that they haven't?
I understand the importance of honoring agreements, Colonel. If China said they'd buy more stuff from US companies, then they should do it. But lets keep in mind that the US doesn't exactly have a sparkling track record when it comes to honoring trade agreements, now does it? For example, the NAFTA trucking agreement comes to mind.
THROUGH means just that the Import-Export only passes the money on to China.
STICK TO THE ^&%$^^%# SUBJECT or don't comment.
Damn Colonel, I thought we'd already worked out that just because you call yourself Colonel here at Gather, that doesn't mean people are going to follow your orders.
In my first post, I explained why I thought it was relevant to the discussion. You replied to my comments, I provided the evidence and now you say it doesn't matter. LOL!
Now where's your evidence to back up your comments? Do you know if what Dr. Paul is saying is actually true, or do you just take his word as gospel?
Yes I do believe Dr Paul. I have no reason not too since he is well schooled on the subject.
When I get back from vacation I think I will start approving all comments and you sir will never get approved.