PELOSI — Statement on the United States-Mexico-Canada Agreement
Editors note. Speaker Pelosi is not ready to take up the US Mexico Canada agreement. May 30, 2019 Contact: Speaker’s Press Office 202-226-7616 Pelosi Statement…
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Press Release: Latest Treasury Report on Exchange Rates Overlooks Currency Misalignment
Private foreign capital is weaponizing US dollar against domestic producers For Immediate Release Washington. The US Treasury Department has released its latest semi-annual report on exchange rate policies. As expected, the report did not cite any countries for engaging in “currency manipulation” that would push the dollar higher relative to their own currencies. However,…
China Cannot Weaponize Its U.S. Treasury Bonds
Editor’s note: Important for financial press (and others) to understand this. Excerpt: “By purchasing fewer U.S. government bonds… Beijing would leave the United States either unchanged or better off, while doing so would also leave China either unchanged or worse off.” Note: This is a follow-up to an article here from May 16 and an updated version of…
Wrangler Gets Rooted: Denim Company Rolls Out Fully American-made Jeans
Editor’s note: Even textile production is moving back to the US. The history of Wrangler blue jeans is rooted in America. The Greensboro, N.C., company first introduced its authentic western jeans to America’s cowboys in 1947 and eventually became one of the United States’ most popular brands. [JEFFREY BONIOR | May 23, 2019 | Alliance for American…
Made in the USA: One Awesome Thing Built in Each State
Editors note: This is a great list of at least one item that is made in America in every one of the 50 states. And Washington D.C., too! [John Del Rosario | June 29, 2017 | Popular Mechanics] Moving manufacturing overseas may be easier. It may be cheaper. But that doesn’t mean everyone is doing…
U.S. Is Learning That China Likes Its Own Model
Editors note: China never wanted to be like the US. As country’s economy and global reach expand, it doesn’t feel the need to adapt for Western acceptance [Gerald F. Seib | May 27, 2019 | WSJ] Since the great opening to China in the 1970s, successive U.S. administrations have operated under the belief that China…
China paid record $22bn in corporate subsidies in 2018
Editor’s note: China subsidies to their industries have been on a strong upward trend for several years. They had no intention of being a free market, free trade country. Increased state support for companies likely to further anger US as trade war deepens [Tom Hancock and Yizhen Jia | May 27, 2019 | Financial Times]…
China’s navy is being forced to rethink its spending plans as cost of trade war rises
Editor’s note: China’s reliance on the US consumer market is the piggy bank that funds its military growth. China is having to reassess its naval shipbuilding plans in the face of economic, technical and strategic challenges at home and abroad, according to military insiders. [Minnie Chan | May 26, 2019 | South China Morning Post] While…
With His Job Gone, an Autoworker Wonders, ‘What Am I as a Man?’
Editor’s Note: This article explores the human cost of NAFTA and the decisions made by General Motors to offshore production to Mexico. Rick Marsh worked in the car plant in Lordstown his entire life. Now that job is gone. What does that mean for his politics? [Sabrina Tavernise | May 27, 2019 | NY Times]…
China’s top banking regulator says yuan bears will suffer ‘heavy losses’
Editor’s note: China jawboning the market to prevent yuan depreciation. And stating that they will shift to domestic consumption, which is what the US wants, rather than their reliance on US consumption for growth. Of course you can never take CCP statements at face value. BEIJING (Reuters) – China’s banking and insurance regulator said on…