By Jeff Ferry, CPA Chief Economist According to rumors circulating in Paris, French president Emmanuel Macron recently had a phone call with Chinese president Xi Jinping in which the Frenchman asked for an emergency shipment of a billion face masks to cope with the COVID crisis. The Chinese president is said to have replied: “We…
Details
By Jeff Ferry, CPA Chief Economist Abstract As we emerge from the current lockdown and economic freeze, the US economy will need a substantial boost. Congress should respond to this opportunity with a two-part economic rebuilding program we call Made in America 2030. This $5 trillion ten-year program would support the rebuilding of vital American…
Details
Concern that multinationals tapping global, not domestic, suppliers Washington. As the United States continues to battle the COVID-19 pandemic, the Coalition for a Prosperous America (CPA) has identified hundreds of U.S. manufacturers available to produce needed medical equipment. A survey conducted by CPA found more than 600 domestic manufacturers with the capacity and resources to…
Details
Editor’s Note: Michael Stumo is CEO of the Coalition for a Prosperous America (CPA). America’s annual trade deficits with China have soared—rising from $83 billion in 2000 to $420 billion in 2018. [Michael Stumo | April 5, 2020 | Industry Week] Twenty years ago, President Clinton gave a speech urging Congress to approve normalized trade with…
Details
Editors Note: A mea culpa from a Wall St financier who offshored production to China. It’s clear that our medical supply chains are in complete chaos. Supplies are so short that some doctors and nurses in New York City reverted to wearing garbage bags in place of unavailable medical gowns or protective gear, to reusing…
Details
Editors Note. The US should do this too. Japan has earmarked $2.2 billion of its record economic stimulus package to help its manufacturers shift production out of China as the coronavirus disrupts supply chains between the major trading partners. [Isabel Reynolds | April 8, 2020 | Bloomberg] The extra budget, compiled to try to offset…
Details
Editors note: COVID will cause the China decoupling trend to massively accelerate. The coronavirus COVID-19 that originated in China may be the last straw that finally has triggered American companies to exit China. In the Global manufacturing consulting firm Kearney’s seventh annual Reshoring Index released on Tuesday, co-author Patrick Van den Bossche writes: [Hank…
Details
Editors note: Navarro was ahead of his time on the China threat. And now the corona threat. Both are now unfortunately defining our country. Media and stateless MNCs need to back off their attacks on him. A memo from Peter Navarro is the most direct warning known to have circulated at a key moment among…
Details
Editors note: This article is very well done. Miami: It’s time to practice social (and economic and political) distancing from Patient Zero of the Covid-19 outbreak, the Chinese Communist Party (CCP). [Cleo Paskal | April 4, 2020 | Sunday Guardian Live] This global disaster has one origin, the nature of the CCP. I’ll explain. Some…
Details
Editor’s note: We are reposting this press release by Rep. Kevin Brady because CPA members, and their families, with COVID related health bills may be able to benefit from the program described below. UPDATE: The Trump Administration announced Friday they will be using a portion of funding from the bipartisan CARES Act to reimburse hospitals…
Details