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"The economic rise of China and other countries across Asia poses a different type of challenge. China and the rest of Asia are on the move economically and technologically. They are a family-oriented, educated, hardworking, and mercantile people. Trade and commerce with these huge new economies can further strengthen our economy and propel our growth. If America fails to act, we will be eclipsed. We have to keep our markets open or we go the way of Russia and the Soviet Union, which is a collapse. And I recognize there are some people who will argue for protectionism because the short-term benefits sound pretty good, but long term you kill your economy, you kill the future."
ROMNEY [on videotape]: I will label China as it is, a currency manipulator, and I will go after them for stealing our intellectual property, and they will recognize that if they cheat, there is a price to pay. I certainly don't want a trade war with anybody, and we're not going to have a trade war, but we can't have a trade surrender either.
China has been a currency manipulator for years and years and years. And the president has a regular opportunity to — to label them as a — as a currency manipulator but refuses to do so. On day one, I will label China a currency manipulator, which will allow me as president to be able to put in place, if necessary, tariffs where I believe that they are taking unfair advantage of our manufacturers.
According to data from the University of Illinois professors Lawrence H. Officer and Samuel H. Williamson, the value of the dollar had depreciated so much by 2008 that it took $5.31 to buy what it cost $1 in 1971 when Nixon decided that the dollar would no longer be backed by gold. Until then, $35 could buy a troy ounce of gold every day. Our dollar today is worth less than 19 cents when compared to 1971 and the price of gold fluctuates between $1,500-1,700 per ounce.
Originally posted by rickymouse
That's it. Romney is mad because China won't buy our Beef.
Originally posted by sirjunlegun
Romney is right about the manipulations and the intellectual property theft.