U.S. Corporations, supposedly the bedrock of America's system of capitalism, have decided that their best bet for the future is to closely ally themselves with China, its manufacturing industry and cheap labor to maximize their profits. In doing so, they have sold out America, its manufacturing sector and its workers. These economic predators have sold themselves to the highest bidder and have now proven, without any doubt, that they have no loyalty to the nation they call their home.
Their policies and actions have been a major contributing cause of this country's ongoing economic problems over this past decade. Since the beginning of this new century more than 42,000 U.S. plants have been closed and 15 million American workers have lost their jobs. This has greatly reduced the purchasing power of consumers and has dealt a huge blow to this nation's faltering economy.
What a terrific partnership this has been for these corporations and China; it's like a marriage made in heaven. Those very clever Chinese, with the help of their U.S. corporate facilitators, have been given the ability to directly tap into the massive American consumer economy. These two partners have been able to pull off an economic coup and now the largest portions of the U.S. retail sector, as well as the American people, are hooked on imported Chinese products.
Yes, this is a perfect partnership. China provides the cheap slave labor to manufacture the products that are then exported to the world's largest market, one that Corporate America controls. What a great arrangement! U.S. corporations' profits soar, CEO incomes and bonuses skyrocket, Chinese corporations, their workers and the Chinese economy all benefit greatly. Of course, when we speak of this transfer of economic wealth, while China is the primary beneficiary, Japan, India, Taiwan, South Korea, and others are also major recipients.
While corporations prosper millions of American workers draw unemployment checks instead of paychecks, they struggle to find any kind of job even for the minimum wage; our economy continues to spiral downward. The Middle Class continues to shrink, the 1% of Americans grows richer and our dysfunctional government in Washington, most of which is controlled by Corporate America, does as it is told by their masters.
America 's economic stability and growth have always been very dependent upon three key factors: a strong manufacturing sector, a stable and skilled workforce, and a consumer-driven economy. Manufacturing, together with the farming sector, has been the main foundation upon which this nation was built. While a service economy complements the manufacturing sector, it in no way can supplant it as the engine of the overall economy.
While the outsourcing of jobs involved with manufacturing durable goods such as appliances, machinery and equipment, and non-durable goods such as food and clothing, have the greatest negative impact on this country, in recent times, we have seen more and more outsourcing of services. For example, when you have a problem with a computer modem, router or some other electronic device and call the 800 number of the company from which you purchased it, chances are that the customer representative who comes on the line to assist you is located in India, Pakistan, Singapore or some other overseas nation.