FacebookTwitterGoogle+RedditEmail

Genuflecting to China

by ALAN FARAGO

Mattel apologizes to China and to the Chinese people for safety lapses which resulted in the recall of 21 million Chinese-made toys in recent months. Excuse me?

Does anyone else feel a backlash rising against China, that is fundamentally different from the trade complaints of the past and skirmishes over the value of the Chinese yuan?

The sight of a major American corporation going on bent knee to a nation that flouts the rule of law, cares not about human rights, freedom of speech, product and food safety, has emerged as a global factor in a warming climate, can’t get its pollution under control– is terrible.

Now, China is right to point the finger at the United States on this nation’s arrogance toward the causes and consequences of global warming.

But of greater concern for now is the position of our economies in relation to each other, and the growing sense that the United States is the subordinate partner.

Our own trade policies (successive presidents) encouraged the massive transformation of the US economy to a low inflation environment that is regulated, not by what we manufacture, but by what China does. So what do we do when Chinese products threaten the health of children, we apologize?

Because the United States embraced this subordinate position, we find ourselves doing exactly what subordinates do: placate those with power over us.

Listening to Jim Cramer last night out of the corner of my ear, I heard him tell television viewers that we shouldn’t worry about the smashed value of the dollar, we should just try to figure out ways to make money from it.

But if this is the good news about the “free market”, why don’t I feel good about it? Why don’t I feel good about the US economy turning into a flea market for the world’s stronger currencies?

I don’t believe apologies to China takes America anywhere this nation wants to be.

The Chinese government views its co-dependency with the US dollar as economic trade-off with diminishing value.

It is no secret: China has announced its intention to diversify its portfolios out of the US dollar. It is the single threat hanging over the intense efforts by former Goldman Sachs chief, Treasury Secty Hank Paulson to smooth relations with China.

Chinese economic ministers are most certainly astute and must feel badly burned by their choice to invest in credit through financial derivatives tied to the US housing industry, now turned to junk. We don’t hear much about China’s dissatisfaction with America, except when we see the reaction of a US corporation, like Mattel, to answer a presumed slight: the recall of 21 million toys.

Who, after all, are Americans to complain about the services we receive from China?

ALAN FARAGO of Coral Gables, who writes about the environment and the politics of South Florida, can be reached at alanfarago@yahoo.com.

 

More articles by:

Alan Farago is president of Friends of the Everglades and can be reached at afarago@bellsouth.net

November 21, 2017
Gregory Elich
What is Behind the Military Coup in Zimbabwe?
Louisa Willcox
Rising Grizzly Bear Deaths Raise Red Flag About Delisting
David Macaray
My Encounter With Charles Manson
Patrick Cockburn
The Greatest Threats to the Middle East are Jared Kushner and Mohamed bin Salman
Stephen Corry
OECD Fails to Recognize WWF Conservation Abuses
James Rothenberg
We All Know the Rich Don’t Need Tax Cuts
Elizabeth Keyes
Let There be a Benign Reason For Someone to be Crawling Through My Window at 3AM!
L. Ali Khan
The Merchant of Weapons
Thomas Knapp
How to Stop a Rogue President From Ordering a Nuclear First Strike
Lee Ballinger
Trump v. Marshawn Lynch
Michael Eisenscher
Donald Trump, Congress, and War with North Korea
Tom H. Hastings
Reckless
Franklin Lamb
Will Lebanon’s Economy Be Crippled?
Linn Washington Jr.
Forced Anthem Adherence Antithetical to Justice
Nicolas J S Davies
Why Do Civilians Become Combatants In Wars Against America?
November 20, 2017
T.J. Coles
Doomsday Scenarios: the UK’s Hair-Raising Admissions About the Prospect of Nuclear War and Accident
Peter Linebaugh
On the 800th Anniversary of the Charter of the Forest
Patrick Bond
Zimbabwe Witnessing an Elite Transition as Economic Meltdown Looms
Sheldon Richman
Assertions, Facts and CNN
Ben Debney
Plebiscites: Why Stop at One?
LV Filson
Yemen’s Collective Starvation: Where Money Can’t Buy Food, Water or Medicine
Thomas Knapp
Impeachment Theater, 2017 Edition
Binoy Kampmark
Trump in Asia
Curtis FJ Doebbler
COP23: Truth Without Consequences?
Louisa Willcox
Obesity in Bears: Vital and Beautiful
Deborah James
E-Commerce and the WTO
Ann Garrison
Burundi Defies the Imperial Criminal Court: an Interview with John Philpot
Robert Koehler
Trapped in ‘a Man’s World’
Stephen Cooper
Wiping the Stain of Capital Punishment Clean
Weekend Edition
November 17, 2017
Friday - Sunday
Paul Street
Thank an Anti-War Veteran
Andrew Levine
What’s Wrong With Bible Thumpers Nowadays?
Jeffrey St. Clair - Alexander Cockburn
The CIA’s House of Horrors: the Abominable Dr. Gottlieb
Wendy Wolfson – Ken Levy
Why We Need to Take Animal Cruelty Much More Seriously
Mike Whitney
Brennan and Clapper: Elder Statesmen or Serial Fabricators?
David Rosen
Of Sex Abusers and Sex Offenders
Ryan LaMothe
A Christian Nation?
Dave Lindorff
Trump’s Finger on the Button: Why No President Should Have the Authority to Launch Nuclear Weapons
W. T. Whitney
A Bizarre US Pretext for Military Intrusion in South America
Deepak Tripathi
Sex, Lies and Incompetence: Britain’s Ruling Establishment in Crisis 
Howard Lisnoff
Who You’re Likely to Meet (and Not Meet) on a College Campus Today
Roy Morrison
Trump’s Excellent Asian Adventure
John W. Whitehead
Financial Tyranny
Ted Rall
How Society Makes Victimhood a No-Win Proposition
Jim Goodman
Stop Pretending the Estate Tax has Anything to do With Family Farmers
Thomas Klikauer
The Populism of Germany’s New Nazis
FacebookTwitterGoogle+RedditEmail