China's War on American Industry

The International Herald Tribune

China has exceeded all predictions on textile exports to the United States since the lifting of global quotas in January, according to industry figures released Wednesday, confirming fears of American textile manufacturers.


Predictions that China would flood the world market with cheap textiles had already inflamed trade tensions between Washington and Beijing, in part because of concern that the Chinese unfairly subsidize their industry and sell their goods at below-production costs, undermining U.S. producers.

In the first month of this year, 12,200 jobs were lost in the U.S. apparel and textile industries, according to the U.S. Bureau of Labor Statistics.

Free trade/Trade with China is going to destroy this country in the long run.

And If you read the article you also came across this:

Using figures from China's customs office, the textile group calculated that China is selling a cotton knit shirt at $1.71, down 45 percent from the $3.12 it sold for last year. Those low prices helped drive up imports of cotton knit shirts by 1,836 percent, it said.

So they take a shirt from china at $1.71 stamp Nike, BUM or whatever on it, and then sell it for $50-$100...

That's insane.

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