The pie is growing unfortunately the number of people taking slices of the pie has increased much faster, that means smaller pieces for everyone except for a few who control the distribution of the pie, I know/expect you under stand this but just in case lets say that in America we have 320 million people drawing from the pie and then we bring in 1.3 billion Indians and another 1.2 billion Chinese. Now lets say that the pie represents jobs and their are 1.2 billion jobs and 3 billion job seekers that means that 1.8 billion do not have a slice of the pie and it will not matter what that 1.8 million do even if they re-educate their selves and displace some of those working those workers that they replaced now take their place as unemployed or underemployed.
I question myself as to whether a global economy "pie" is a good or bad thing, short term it has hurt the american worker maybe long term "10-20 years" it would be good. I wonder if it is/was preventable but their is no way that anyone can deny the impact it has had on America's working middle class. Now those who have benefitted the most from the Chinese and Indian merging into the job pie are those who hand out the slices you know those that can invest in foreign markets. It seems that for some reason the Republicans and Wall Streeter's fight any effort to make the Chinese live up to the trade agreements and to bring their undervalued currency up
Senate moves toward final vote on China currency
Senate Majority Leader Harry Reid said he wants a vote on legislation that could punish China for undervaluing its currency.
The bill is intended to impose enough trade penalties against China so Beijing will keep the yuan below market values.
The measure cleared an important procedural vote Thursday, and Senate Majority Leader Harry Reid, D-Nev., said he wanted a vote on passage either late Thursday or Friday.
STORY: House leader against punishing China on currency
The White House has raised concerns about taking unilateral action against the Chinese. Multinational corporations that do business in China widely oppose the plan, fearing it could lead to a trade war.
But the legislation has bipartisan backing from senators responding to popular resentment to the way China has come to dominate U.S. markets and drive American manufacturers out of business.
Sen. Lindsey Graham, a Republican, cited estimates that China has cost the U.S. some 2 million manufacturing jobs in the past decade, and that the 30% advantage Chinese producers have because of the undervalued currency could prove devastating as China prepares to enter world markets in commercial aircraft and automobiles.
Economists agree that the yuan is undervalued by 25% to 30% against the dollar; some put it as high as 40%. The result is that Chinese goods are increasingly cheaper in the
United States and U.S. products more expensive in China.
Chinese Foreign Ministry spokesman
Ma Zhaoxu said in a statement this week that the bill violated
World Trade Organization rules "and seriously disturbed China-U.S. trade and economic relations."
Because of the support the Chinese receive from many republicans and Wall Streeters, The American worker can not compete against the low wages paid to foreign workers the Wall Streeter's and the many republicans supporting the Chinese