Printer Friendly
The Free Library
14,574,814 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

Taking it to the hill.


AS a scholar of the English language English language, member of the West Germanic group of the Germanic subfamily of the Indo-European family of languages (see Germanic languages). Spoken by about 470 million people throughout the world, English is the official language of about 45 nations. , I have noticed that certain words carry more emotional weight than others do. "Free" is one of those words that trip a wire in the human brain. Buy one, get one free "Buy one, get one free" is a common form of sales promotion. While rarely presented to customers in acronym form, this marketing technique is universally known in the marketing industry by the acronym BOGOF . Free Mandela. The land of the free.

Americans in particular have a soft spot in our hearts when it comes to anything free. We believe in being free--it's in out history, out blood. We're taught in school that freedom is great, and the U.S. is great because of its freedom. Free is almost always a positive thing, which is why bills containing the word in their titles usually sail through Congress.

Free trade can and should be a good thing. So when is free trade a bad thing? When the trading partners are not playing by the same rules. The U.S. is quickly learning that free trade isn't necessarily fair trade.

This is the situation the U.S. finds itself in with China. More than three years after winning acceptance into the World Trade Organization, China continues to violate WTO See World Trade Organization.  regulations. China manipulates its currency in direct violation of WTO regulations, but neither the Bush administration nor members of Congress seem willing to do anything but talk tough. Our government is essentially telling the U.S. manufacturing community, "You're bringing a knife to a gunfight. Get over it."

Don't expect the WTO to step up to the plate.

That's where IPC's Capitol Capitol, seat of the U.S. Congress
Capitol, seat of the U.S. government at Washington, D.C. It is the city's dominating monument, built on an elevated site that was chosen by George Washington in consultation with Major Pierre L'Enfant.
 Hill Day comes in. This event, to be held May 18 in Washington, D.C., offers the chance to meet with your representatives in Congress and let them know that you're holding them accountable for enforcing international trade regulations. This year the focus is on convincing government officials hot to ink any more trade agreements until we enforce the existing ones. What's the point of enacting further trade agreements if we're hot willing to enforce the ones already on the books?

Part of the confusion no doubt sterns from age-old differences between our countries. China was a closed society until the fairly recent past--remember the shock waves caused by Nixon's visit to China?--and the country's government still micromanages its economy. The leaders want China to lead the world in manufacturing, among other things.

So China pegs its currency to the dollar and keeps it undervalued Undervalued

A stock or other security that is trading below its true value.

Notes:
The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating.
. John Kania, IPC's director of government relations, estimates that the yuan Yuan (yüän), river, 540 mi (869 km) long, rising in S Guizhou prov. and flowing generally NE to Donting lake, Hunan prov., SE China. Navigation above Changde is limited by rapids to small craft.  is undervalued anywhere from 2040% below the greenback greenback, in U.S. history, legal tender notes unsecured by specie (coin). In 1862, under the exigencies of the Civil War, the U.S. government first issued legal tender notes (popularly called greenbacks) that were placed on a par with notes backed by specie. . Currency-pegging is a simple, shrewd practice that some small countries engage in. But it gives Chinese PCB PCB: see polychlorinated biphenyl.
PCB
 in full polychlorinated biphenyl

Any of a class of highly stable organic compounds prepared by the reaction of chlorine with biphenyl, a two-ring compound.
 manufacturers a huge advantage over American board shops. They can sell $10,000 worth of boards for $8,000 and still make a profit.

And currency-pegging requires China to buy ever-increasing amounts of U.S. government-issued debt, which could give China a dangerous influence over the U.S. economy. You'd think that alone would worry out elected officials.

There is a procedure for dealing with this issue. The Treasury Department is required to issue semi-annual reports identifying countries that are engaged in currency manipulation to the detriment Any loss or harm to a person or property; relinquishment of a legal right, benefit, or something of value.

Detriment is most frequently applied to contract formation, since it is an essential element of consideration, which is a prerequisite of a legally enforceable contract.
 of the U.S. economy. Treasury must then begin negotiating with the countries in question to put a stop to it.

But the Bush administration has refused to force the issue, even rejecting last fall a petition--filed under Section 301 of the Trade Act of 1974--that would have imposed trade sanctions Trade sanctions are trade penalties imposed by one or more countries on one or more other countries. Typically the sanctions take the form of import tariffs (duties), licensing schemes or other administrative hurdles.  on China unless that nation revalued the yuan. U.S. Trade Representative Robert Zoellick denied the petition the day it was filed, which must be a record for government responsiveness.

As a co-sponsor of Capitol Hill Day, we at UP Media Group are in total agreement with IPC (1) (InterProcess Communication) The exchange of data between one program and another either within the same computer or over a network. It implies a protocol that guarantees a response to a request.  on this issue, and with other industry trade publications that are supporting the event.

Go to Washington on May 18 and tell out elected officials that they must enforce existing trade agreements. Only then will free trade be fair trade.
COPYRIGHT 2005 UP Media Group, Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2005, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:OUR LINE
Author:Shaughnessy, Andy
Publication:Printed Circuit Design & Manufacture
Date:May 1, 2005
Words:651
Previous Article:Skewering skew: weave-induced skew could be a time bomb lurking in your high-speed serial links.(No Myths Allowed)
Next Article:Buying trends 'on display'.(MARKET WATCH)



Related Articles
END OF LINE FOR GRANADA HILLS : WESTCHESTER 26, G. HILLS 21.(SPORTS)
Insurance brokers: ranked by 2001 total California premiums.
Talent agencies: ranked by Los Angeles county agents.(The List)(Illustration)
SERVICE WITH A RYE SMILE VENERABLE NATE 'N AL'S MARKS 60TH YEAR IN BIZ.(News)
Housing project caps family's 30-year plan.(Real Estate & Housing)
SAN FERNANDO HOLDS ON GRANADA HILLS' FOURTH-QUARTER SURGE COMES UP SHORT SAN FERNANDO 23, GRANADA HILLS 21.(Sports)
Executives tell why growing a firm can be so hard.(VALLEY AREA'S FASTEST 50 GROWING PRIVATE COMPANIES)
Musical chairs.(Music firm Line 6 Inc moving its headquarters form Agoura Hills)(Brief Article)
1998: LADD drafts Grant Hill for furniture line.(THE BACK PAGE)
SERVICE WILL LINK VALLEY TO BEACH.(News)

Terms of use | Copyright © 2009 Farlex, Inc. | Feedback | For webmasters | Submit articles