Sandy Levin’s Gripes With Chinese Trade Practices

by Pejman Yousefzadeh on March 7, 2012

Translated from the original Congressionalese by Don Boudreaux, who addresses Levin in an open letter:

Let’s reword this complaint to reveal a reality that your prose masks: “China gives AMERICAN CONSUMERS whatever advantage it can over CHINESE CONSUMERS. China provides massive loans at below-market interest rates, cheap or free land, extensive tax breaks and other subsidies in an effort to advantage AMERICAN CONSUMERS WHO, AS A RESULT OF THESE ACTIONS BY BEIJING, HAVE ACCESS TO MORE GOODS AT LOWER PRICES…. And it engages in a large-scale manipulation of its currency THAT, WHILE IT DISTORTS AND DAMAGES CHINA’S OWN ECONOMY, FURTHER REDUCES AMERICANS’ COST OF LIVING.”

Presumably, we are supposed to be upset by the content of Levin’s complaint. Somehow, I find myself unmoved by what alarms him.

Previous post:

Next post: