The USA - China trade deal signed in 1999 provides increased access for US exports across a broad range of commodities and elimination of barriers. At that time it was considered a third world country.
Below is a breakdown of what has transpired since that agreement was signed .China is looking pretty good as far as economics are concerned. One of the greatest imported of all is Wal Mart . We have thousands of Wal-Marts across the country and around the world and every time we buy an item from one we are helping China grow and flourish economically . While our own country slips deeper into recession. We are no longer the export king of the world, we are barely a dutches. China dose not have to comply with American standards. They send us toys filled with lead that can kill our children. The clothing they make is inferior to American made. They do not have to adhere to EPA regulations.
So far for our agreement we have received dog & cat food. Poisonous lead paint οn ουr childrens toys. Deadly chemicals found іn Chinese mаԁе toothpaste. Chicken, pork аnԁ fish wіth tainted Chinese pet food ingredients. Dried apples preserved wіth a cancer-causing chemical. Frozen catfish laden wіth banned antibiotics. Scallops аnԁ sardines coated wіth rotten bacteria. Mushrooms laced wіth illegal pesticides. I mean thе list goes οn аnԁ οn… Thе Food аnԁ Drug Administration detained аt U.S. more thаn 1,000 shipments οf tainted Chinese products. Sο, WHY ԁο wе still bυу frοm thеm??
Than of course there was that baby formula that contained Melamine, a byproduct of plastic manufacturing, can be used to mimic high-protein additives…There was only one store found to have it in the US in 2004.. In China dozens of babies died from ingesting the fake formula. My question here to you is this . Is it worth buying products at a cheaper price when we are loosing jobs, industries and our own lively hood to help China a communist country prosper ?
Try tο ɡο shopping аnԁ bυу οnƖу products mаԁе here іn thе USA. They are getting harder and harder to find , but they are there if you are willing to pay more and take the time to look for them.
Here is is the time line for the WTO agreement : I believe they have just about surpassed it .
China became a WTO member on December 11
100 % foreign-ownership in tourist facilities –hotels
Restrictions lifted for distribution of imported goods
Most tariff cuts complete Geographical restrictions on cellular phones lifted
Most of the insurance market will be open;
Most banking restrictions lifted; Most quotas removed;
Expect full implementation of the USA - China trade agreement to occur
Tariffs reduced to 10% in the automobile sector
USA textile safeguards removed (December 31)
End date for US Congress protection against "rapid increases in imports."