Of course he did.
I wrote this yesterday before seeing today's news, so have posted both.
There's nothing China loves more than free trade. For China to trade
freely with you, however, and not the other way around. When you trade
with China, the government keeps the money, and then lends it to the
American government, which pays interest to China. But the last thing
the Chinese want to do under any circumstances is to have to buy
American stuff. Or let their citizens, G-d forbid, buy American stuff.
This has all come to a head during the current climate "negotiations"
(read: shakedown) in Copenhagen, with China claiming status as a
"developing country". Developing countries are demanding the right to,
in effect, allow their level of output to rise, while developed
countries must not only decrease their own emissions, but subsidise
measures to balance the effects of Climate Change in other parts of
Under cap-and-trade rules, countries that are allocated a greater
allowance of emissions than they can actually produce, can sell those
extra "carbon credits" to countries that overproduce, namely Western
countries. There is little doubt that these prices will be fixed too,
so no free market jiggery-pokery there. Russia will clean up, so to
speak, as its emissions have greatly decreased since the 1980s due to
the slowdown in its industry.
So, in effect, Western nations' industries have been undercut over the
past thirty years or so by countries with little or no health and
safety, environmental, or any other legislation, who have set up
virtual sweat shops to compete - most would say unfairly - with
Western-produced goods. Jobs have been exported wholesale to these
countries, and so have entire industries. Rather than manufacturing,
the West -as the sole bastion of Capitalism- has as its only
Comparative Advantage the area of Research & Development,
and the resulting technological advancement it leads to.
These climate negotiations will see the end of this advantage, as
third world countries, who have benefitted from labour-intensive,
low-tech but high-output industrial competition with the West, will
now force Western countries to subsidise their own impoverishment, by
holding developed countries to ransom over "Climate Change".
The West's only weapon? to introduce "Border Adjustments" (see link),
which would impose restrictions on good produced by unfairly
competitive industries in countries who do not have a fraction of the
regulation that Western countries have. Third World nations will be
free to take jobs and industry from developed countries, and then
force feed us substandard products, produced with little or no
environmental awareness, by employees with few if any rights or
safeguards. We could- and morally, should - impose restrictions on
these goods through Border Adjustments.
But guess what?
Washington Post: At Copenhagen, both rich and developing countries offer concessions.
But note, the "concession" offered by developing countries is the possibility of accepting slightly less free money than they wanted.
See also, Commentary at American Thinker: Obama offers $33 billion per year in climate reparations.
Friday, December 18, 2009
Of course he did.