Editor’s note: We must not let the COVID pandemic become a growth opportunity for China. Absent counter-action, they will take out our medical supply and device industry. Manufacturers quickly retool as their western rivals struggle against production constraint [Sun Yu, Xinning Liu and Tom Mitchell | May 11, 2020 | FT] When southern Chinese auto parts…
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Editor’s Note: Michael Stumo is CEO of the Coalition for a Prosperous America (CPA). Follow him on Twitter @michael_stumo. We’re now roughly two months into the global COVID-19 pandemic. Amid unprecedented economic disruption, Congress has already passed four pieces of bailout legislation at a cost of roughly $3.6 trillion. The spending is necessary, but one question keeps hanging in…
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By Jeff Ferry, CPA Chief Economist Despite the COVID-19 crisis, Chinese technology company Huawei is having a good spring. In March, it reported that 2019 revenue rose 19 percent to $123 billion, a new high. In the first quarter of this year, Huawei’s chip division HiSilicon surpassed Qualcomm to become number one in the China…
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Editor’s note: An article calling for decoupling from China because it wants to destroy and dominate the international order, not join it. In 1947, we could afford to give containment a try. Today, a defensive stance will not cut it. [Andrew A. Michta | May 7, 2020 | The American Interest] A long overdue…
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Editors note: Perhaps the US needs to buy pork processing plants in China to export the meat to the US. What do you suppose Chairman Xi would do then? CHICAGO (Reuters) – U.S. President Donald Trump ordered meat processing plants to stay open to protect the nation’s food supply even as workers got sick and…
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Editor’s note: SEC’s Clayton may need to find a new job. SEC refuses to go after China-owned publicly listed corps that won’t allow financial disclosures to be made public. Instead Clayton’s agency says “oh, just be careful”. Ridiculous. The commission’s ‘buyer beware’ announcement looks tough but actually is irresponsible. [Michael D. Mann and Arthur Levitt Jr.…
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20.5 million U.S. jobs lost in April Washington. Today’s jobs report shows a drastic collapse in overall U.S. employment. A record 20.5 million jobs were lost in April, propelling the nation’s unemployment rate up to 14.7 percent, a new post-World War II high. This morning’s “JQ-Instant” indicator, published by the Coalition for a Prosperous America…
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Editor’s Note: Dan Alpert is on CPA’s advisory board and a principal researcher to the Job Quality Index. Average hourly wages will likely jump between 4% and 6%, cumulatively, from March through May of this year. How can this be? Because we have just eliminated tens of millions of low-wage/low hour jobs and the mix of jobs…
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Editor’s note: For American workers stepping up to provide COVID supplies, we don’t need to drop those contracts (like facemasks) as happened after SARS. Government procurement needs to (a) STOP the low-price contracts which are really pro-China contracts and (b) offer longer-term contracts to USA producers so we can build capacity here. Otherwise we won’t…
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Editor’s Note: David Morse is the tax policy director at the Coalition for a Prosperous America Education Fund. Right now, Washington is preoccupied with efforts to support struggling U.S. businesses during the COVID-19 pandemic. Surprisingly, some companies that use tax havens to avoid paying U.S. taxes are trying to get their share of this relief aid…
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