Conventional wisdom has it that China’s growing economy poses a serious threat to America’s status as a global economic superpower. The media and politicians repeat time and again that the United States is losing much of its manufacturing base to China and that American jobs are disappearing as a result. Many Americans who believe these claims vote for politicians who promise to “protect” American jobs from foreign competition. A look at the numbers reveals that, contrary to the assertion that corporations prefer to invest in low-wage countries like China, the …
Congress keeps threatening to shut down over the budget, but there is at least one thing the two houses can agree on. Pending free trade agreements have bipartisan support in both the House and Senate; all that is needed is for President Obama to send them to Congress, so that they can be passed. Congressman Kevin Brady (R–TX), vice chairman and top Republican on the Joint Economic Committee and chairman of the House Ways and Means Subcommittee on Trade, spoke at the Heritage Bloggers Briefing on the pending free trade …
