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December 2, 2014

Jonathan Tobin: Defending the Right to a Jewish State

Heather Hale: Compliment your kids without giving them big heads

Megan Shauri: 10 ways you are ruining your own happiness

Carolyn Bigda: 8 Best Dividend Stocks for 2015

Kiplinger's Personal Finance editors: 7 Things You Didn't Know About Paying Off Student Loans

Samantha Olson: The Crucial Mistake 55% Of Parents Are Making At Their Baby's Bedtime

Densie Well, Ph.D., R.D. Open your eyes to yellow vegetables

The Kosher Gourmet by Megan Gordon With its colorful cache of purples and oranges and reds, COLLARD GREEN SLAW is a marvelous mood booster --- not to mention just downright delish
April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review Oct 27, 2011 / 29 Tishrei, 5772

Romney's threat to China

By Jeff Jacoby

Jeff Jacoby




http://www.JewishWorldReview.com | In his 2010 book No Apology, Mitt Romney has a lot to say about China, much of it unfavorable. He writes of Beijing's "brutal repression and incarceration of dissidents." He decries the brazenness of Chinese enterprise, with its "rampant theft of intellectual property from Western businesses." He warns that China's "aggressive pursuit" of cyber-warfare capabilities has made it "the most active cyber-combatant in the world." He details the ominous Chinese military buildup in combat aircraft, submarines, and ballistic missiles. He laments the communist government's willingness to shield the odious regimes in Iran and Sudan from international sanction.

Nevertheless, Romney's criticism of China has its limits. Nowhere in his book does he characterize China as a hostile trade foe, or condemn its currency policies as "cheating," or call for the imposition of protectionist tariffs.

Yet on the presidential campaign trail these days, the former Massachusetts governor routinely slams the Chinese government, vowing that on "Day One" as president he'll designate China a "currency manipulator" and impose tariffs on Chinese exports to the United States. "We've allowed China to just walk all over us," Romney fumed during an interview with Sean Hannity the other day. He dismisses concerns about starting a trade war with America's largest foreign creditor. The only "alternative to confronting China," he wrote this month, "is allowing the Chinese to take by trade surrender what we fear to lose in a trade war."

Whipping up resentment against foreign trading partners is a time-honored way for candidates of both parties to score cheap political points. Romney's China-bashing today is reminiscent of the Japan-bashing that candidates like Pat Buchanan and Dick Gephardt sought to ride to the White House a generation ago. What makes this candidate's protectionist rabble-rousing so disappointing is that he knows perfectly well how superficial and spurious it is.

The vehement line of attack Romney keeps up against China today is absent from the manifesto he published last year. In No Apology, Romney emphasized protectionism's self-destructiveness. "US companies faced with less costly products from overseas have to make one of two choices," he wrote. One is to improve their own technology and productivity; the other is to "argue for protection, hold on as long as possible, and slowly watch their market share wane." Far from endorsing vigorous presidential action against foreign competitors, he faulted George W. Bush and Barack Obama for yielding to protectionist special pleading. The Obama administration's punitive tariffs on Chinese tires may have been "good politics," Romney declared, "but it is decidedly bad for the nation and our workers. Protectionism stifles productivity."

It may be true, as Romney and others claim, that China artificially undervalues its currency, thereby making Chinese goods less expensive to import than they otherwise would be. It's easy to understand why some manufacturers might not happy about that, but for US consumers generally China's policy is a blessing. "By keeping the value of its currency low, Beijing enables Americans to stretch our dollars farther," economist Donald Boudreaux remarks. "This results in significant improvements in living standards" -- especially for poor and working-class Americans. Does Romney really think that's a bad thing?

And does he really believe it's in the US interest to hold the threat of new tariffs over the heads of Chinese manufacturers? Romney's "Day One" threat to slap higher duties on Chinese imports is just another way of saying that if China doesn't force Americans to pay more for made-in-China products, Washington will. Tariffs are taxes, and they will do more than hurt millions of American shoppers for no good reason. They will also penalize innumerable businesses that rely on imported goods and materials, and the myriad of employees, managers, and shareholders whose economic welfare is linked to those businesses' success.

As it happens, the value of China's currency has appreciated by around 30 percent in recent years and is likely to keep climbing. But from an American perspective, it shouldn't matter whether imports from China cost less because Beijing manipulates the yuan, because Chinese manufacturers have access to abundant raw materials, or because of a new technology that turbocharges Chinese productivity. Whatever the reason, the bottom line is the same: lower prices for US consumers. And lower prices aren't something from which Americans need to be rescued by politicians.

"When I see an American company challenged by a foreign competitor," Romney wrote in his book, "I don't look for protectionist policies as an answer to the company's problems." If only that Romney were the one running for president.

Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.

Jeff Jacoby is a Boston Globe columnist. Comment by clicking here.

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