In response to news that China-based investor Wanxiang Group Corp would be investing in the federally back A123 battery company, Senator John Thune said, “President Obama's energy policy has been a win-win for China and a lose-lose for the American taxpayer.”
A report in the Chinese state-run Xinhua outlet claims that President Barack Obama congratulated Xi Jinping on his "election" to be the top Communist in China. Jinping will be the next president of China, and now controls the Chinese military.
Earlier today at an Obama rally in Chesapeake, Virginia, former President Bill Clinton said that American can't export Jeeps to China:
"They used to produce Jeeps in China and they were about to go broke so they had to quit," Clinton said. "You can’t make a Jeep in America and send it to China – it weighs too much, it costs too much to send over there. All they are going to do is reopen their operations there and try to sell Jeeps there too. We’re doing fine here."
China and the United States both launch leadership transitions this week. Earnest persons, in fear or hope, turn a raindrop of coincidence into a storm of meaning. In fact, November 6 here and November 8 in Beijing, when the Chinese Communist party (CCP) opens its 18th congress, have nothing in common except dual fascination to a jumpy world.
During Monday night’s presidential debate, the candidates beat their breasts vying to be tougher on China. Barack Obama pointed to his accomplishments, while Mitt Romney attacked the president for being afraid to label China a currency manipulator. The amount of time devoted to America’s largest creditor and potential enemy shows that managing the relationship with China is critical for whoever sits in the Oval Office.
In the wake of the Treasury Department’s newly released summary of federal spending for 2012, it’s now possible to detail just how profligate the Obama years have been. Here’s the upshot: Under Obama, for every $7 we’ve had, we’ve spent nearly $11 (or, to be more exact, $10.95). That’s like a family that makes $70,000 a year — and is already knee-deep in debt — blowing nearly $110,000 a year.
Never underestimate the ingenuity of the New York Times when it comes to creating – not finding, creating – misfeasance by Mitt Romney. In a front-page, above-the-fold story on Wednesday, under the headline, “Romney’s Trade Message and Bain’s China Ties,” Sharon LaFraniere and Mike McIntire ran into a problem.
Free trade might not be the first casualty of an American election campaign, but it is right up there in the top rank. President Obama is bashing Mitt Romney for sending jobs to China when he ran Bain Capital, and Romney is returning the favor by accusing Obama of failing to label China a currency manipulator, and “being China’s doormat at the expense of America’s workers.”