Oh boy! Another Communist Chinese Party (agribusiness) is poised to open a factory in America. This one is in North Dakota. The rabbit hole to dependence on China, not to mention intel-protection and national security, is becoming deeper and deeper. “Creeping Communism” would be a good name for the way America is getting sucked-into danger.
Virtually every American with a retirement plan or investment portfolio has a stake in the Chinese economy, whether they realize it or not. American companies like Apple, Exxon, Mobil, Microsoft, Gen. Electric, Google and IBM have serious contracts for assembly work to companies such as Foxconn, a huge China employer, which is accused of abusive labor practices. Annual reports rarely break-down holdings by country. Gen. Electric has “Pacific Basin” revenue, which accounts for 16% of total sales. It grew by 28% in 2011.
The global economy has become so interconnected that nearly all big American companies have foreign operations. Foreign markets are growing faster than the U.S. economy these days. The word “global” appears 60 times in IBM’s SEC filing. The word “China” is in there 3 times, even though IM earned 24% of its revenue from the “Asia Pacific” region. Wal-Mart, Target and other big retailers are full of Chinese-made goods. The shift in manufacturing in China has cost U.S. jobs.
In a 2012 presidential debate, Obama accused Romney of Chinese investments. Romney quipped, “Mr. President, have you looked at your pension? The list goes on and on … Big Tech, Big Pharma, Pelosi’s $300-million, Military Industrial Complex, auto industry, solar panels. The United States is making adversaries, like Russia (dirty oil) and China, wealthier every day. This is not good for national security.
