Buy American
http://thekojonnamdishow.org/shows/2012-04-09/buy-american
Guest Host:
Marc Fisher
Despite the popularity of slogans like, "Buy American," our trade deficits continue to soar. One proposal to address the problem is more detailed country-of-origin information on products to help shift American shopping habits. Meanwhile, the United States is pursuing a “NAFTA of the Pacific” trade agreement that would lower trade barriers with several Pacific countries. We explore how these ideas might affect the economy--and prices.
Guests
Lori Wallach
Director of Public Citizen’s Global Trade Watch
Alan Uke
Owner, Underwater Kinetics, and author of "Buying America Back" (Select Books, April 2012)
Cal Cohen
President, Emergency Committee for American Trade (ECAT)
Bruce Stokes
Senior fellow for economics, German Marshall Fund of the United States; Contributing editor, National Journal
Comments
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The views presented by the "Buy American" advocates were very misleading and out dated. Take the "iphone" as an example, only the final assembly is actually done in China, which constitutes about 5% of the total value, and the key components are made in countries and imported to China to make into the final product. However, the total value of iphone is counted as import from China in the trade figures. So in this global economy, the traditional trade picture/figures no longer apply nor reflect the reality. Just like some Toyota models of cars actually have highest made-in-America contents. Personally I bought 2 expensive New-Balance running shoes with "Made in USA" label, but my toes started to poke out within a month. So I'm buying the best that I can afford.