China's economic miracle

U.S. Senator Bernie Sanders — US Senator for Vermont

Warren Buffett recently said, “What [China] has done in the last 50 or 60 years is a total economic miracle. I never would’ve thought it could’ve happened. What I do know is they have found a secret sauce for themselves, just like we found the secret sauce a couple centuries ago.”

It turns out that China's "secret sauce" is not so secret. It's called Walmart, Apple, IBM, General Electric, Boeing, Hewlett-Packard, and hundreds of other companies abandoning the middle class and moving our factories and technology to China. The question that must be asked is: why is it that corporate America, with the active support of Congress, has sold out the working class of our country and made China the economic superpower of the 21st Century?

At a time when the gap between the wealthy and everyone else grows wider, while millions of Americans are working longer hours for lower wages, the struggle of our time is whether the middle class can be saved. Will we be a country where ordinary workers have a bright economic future with good wages and benefits or will we continue to move in an oligarchic direction where a handful of billionaires get richer while almost everyone else gets poorer?

The answer to that question, to a large degree, rests on whether we will have the courage to make fundamental changes to our trade policy, including repealing Permanent Normal Trade Relations with China. Trade is a good thing, bit it has got to be based on principles that are fair to American workers.

Source
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