The Extreme Hypocrisy of Democrat Nancy Pelosi ~ 1996 China Trade Position in US Congress

1996 US Congress - Nancy Pelosi: "how far does China have to go how much more repression how big a trade deficit and la loss of jobs for the American worker and how much more dangerous proliferation has to exist before members of this House of Representatives will say "I will not endorse the status quo." As I mentioned it's about jobs proliferation and human rights and there are those who say we shouldn't link human rights and trade and proliferation and trade i disagree but if we just want to take up this issue on the basis of economics alone indeed China should not receive most favored nation status for many for several reasons that I'd like to go into now i'd like to call the attention of our colleagues to this chart on the status quo that the business community is asking each and every one of you to each and every one of us to endorse today right now we have a $34 billion trade deficit for with China the 1999 95 figure it will be over 40 billion for 1996 since the Tanaman Square massacre this figure has increased 1,000% from 3.5 billion then to about $ 34 billion now in terms of tariffs I think it's interesting to note that the average US MFN tariff on Chinese goods coming into the United States is 2% whereas the average Chinese MFM tariff on US goods going into China is 35% is that reciprocal on exports china only allows certain industries into China of US uh industries into China and therefore only 2% of US exports are allowed into China on the other hand the US allows China to flood our markets with 30 a third of their exports and that'll probably go over 40% and and it's limitless because we have not placed any restriction in terms of jobs this is the biggest and crulest hoax of all not only do we not have market access not only do they have prohibitive tariffs not only are our exports not let uh uh let in very specifically but China benefits with at least at least 10 million jobs from US China trade the president in his statement gr uh requesting this special waiver said that it China trade supports 170,000 jobs in the United States 70,000 jobs whereas our imports from China support a mill 10 million jobs at least fact is that that US China trade is a job loser and and one of the reasons that it is is because in order well first let me just make another point and that is that our colleagues on the other side of this issue will say that trade with China exports to China have increased three times in the last 10 years they have but they failed to mention that exports imports from China have increased 11 times thereby leading to this huge trade deficit the other issue in addition if if intellectual property is a $2 billion$3 billion loss technology transfer is in the hundreds of billions of dollars if you want to sell to China your products into China the Chinese insist that you open a factory there they take misappropriate your technology open factories of your their own and then say to you now we want to see your plan for export that's as simply as I can say it it briefly but the fact is this isn't about products made in America the Chinese want American products that are made in China and the most serious of these uh um transfers of technology are in the airline industry where Boeing tail section the tail sections of the Boeing 737s were mostly made in Witchah Kansas now they are made in Shen Province where workers make $50 a month and they had the transfer of the technology and the transfer of the jobs has taken place general Motors Ford they're all fighting to get in to build factories there so they can make parts there they want MFN so they can get those parts back into the United States so we are exporting not low tech jobs and textile jobs we're exporting our technology now if you take a country the size of China with the cheap the very cheap and and in some instances slave labor the lack of market access the ripoff of our intellectual property the transfer of technology a country that is not willing to play by the rules in any respect in this trade relationship you have a serious threat not only to our relationship but to the industrialized world and if there's one message that I want our colleagues to understand today and our constituents is that on this day your member of Congress could have drawn the line to say to the president of the United States do something about this USChina trade relationship that is a job loser for the United States and this brings us to the point that others have said well we can't isolate China do you think for one minute that with 10 of 10 million jobs at least and 35 billion and be over $40 billion this year in a trade surplus all those billions of dollars in surplus that the Chinese are going to walk away where are they going to take 35 to 40% of their exports who's going to buy them this is what sustains the regime the the funding and the jobs they can't have those people out of work they have to be at work exporting to the United " ~ Nancy Pelosi