Friday, June 25, 2010

Buy American and balance of trade.

Most of the consumer goods sold in America are manufactured in China .In China most of the companies are owned by the government and so all the profits go to State and in return giving it more power.I do not know now but not long ago Wal Mart was responsible for 10 percent Chinese exports.

It is about time that it was asked of Walmart to sell more american made products with the American companies standing behind them.They should be asked to report what percentage of the sales are of american products and percentage of products from each of our trading partners.The target should be minimum of 50 percent american made content with in 36 months. If not public should boycott the products and retailers. This policy should be implemented in all the enterprises with sales of more than 500 million dollars.

A fair warning should be given to all trading partners other than raw materials.A balance of trade should be maintained .A Target of no more than 50 Billion annual trade imbalance should be accepted . A two years of grace period should be allocated to adjust while effort are made to bring this trade in balance. Failure to do so we will impose a duty of 10 percent first year and every year after this duty will double till balance of trade position is in compliance.


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