quarta-feira, setembro 17, 2003
Negócio da China
Na NRO, Bruce Bartlett, desmistifica a questão de subvalorização do yuan face ao dólar.
[I]t is worth remembering that if the yuan is truly undervalued against the dollar, then it is like giving every American a 40 percent discount card on everything made in China. Our real incomes are higher in terms of what they will buy because of the Chinese policy. Instead of complaining, we should all be grateful.
Of course, there are those who will point to jobs in the U.S. that have been lost due to competition from Chinese imports. But is this really a sensible rationale for putting tariffs on Chinese goods, as Sen. Charles Schumer (D., N.Y.) proposes? If Wal-Mart suddenly decided to cut the prices on all its goods by 40 percent, would Sen. Schumer endorse a tax on Wal-Mart because Target was losing jobs? I think not, but the analogy is accurate.
Even if Sen. Schumer's 27.5 percent tariff is imposed on Chinese goods, it is not necessarily going to restore any American jobs. In all likelihood, companies now importing from China will just buy from the next-cheapest producer, which may be Korea, Singapore, Mexico, or someplace else. They are not going to start manufacturing here the goods that are now being imported from China unless we put high tariffs on imports from everywhere.
posted by Miguel Noronha 2:47 da tarde
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