Paul Ryan Wants to Put China In Charge of Trade
Paul Ryan’s biggest baloney sandwich of a claim during his TPP pushing campaign has been to try to convince us that TPP lets America, not China, write the rules of trade. Well, I suppose you can’t expect much from a guy whose only real job outside of pocketing taxpayer dollars was driving the Oscar Meyer Weiner mobile; because here’s the truth that any business man will understand – China already wrote the rules on global trade and TPP will seal the deal. Paul Ryan’s just to wrapped up in his fancy Washington, DC lifestyle to see it.
TPP & AIIB PUT CHINA IN CHARGE OF GLOBAL TRADE
China’s formation of the Asian Infrastructure Investment Bank, (AIIB), eliminates any possibility of using the Trans Pacific Trade Agreement as ‘China Containment’. Furthermore, AIIB’s formation means that China, not the United States, has written the rules for investment and trade – not only in Asia, but around the world.
HE WHO HAS THE MONEY MAKES THE RULES:
- China formed the AIIB, in October 2014
- AIIB is now the largest world bank; its scope and funds outsizing the IMF, the World Bank and the Asian Development Bank, (ADB), combined
- SCOPE: 57 Founding Member Countries, including:
o 6 of the Asian TPP partners are already members, with 2 more, (Japan and Canada), under consideration.
o Key European allies and TTIP partners have joined AIIB including: Germany, Switzerland, UK, France, Austria, Finland, Sweden
o The Islamic Development Bank has also joined AIIB
- INVESTMENT: At $1 trillion, the AIIB initial investment base is double the combined investment base of the IMF ($200 Bn), World Bank ($200 Bn) and ADB ($165 Bn)
Dozens of emerging, pre-emerging and well developed first world economies will now be growing crops, building plants, and making investments all with manipulated currency, making it impossible for the United States to compete on any level and in any playing field world-wide. Cynical critics argue that China’s investment in the AIIB was essentially funded by the United States’ trade deficit.
- By most accounts, the Chinese Yuan is undervalued by 40%
- Excluding the future impact of AIIB, currency manipulation has already cost the US GDP $800 billion and 8 million jobs, with half of that caused by China alone. Eliminating this would increase our GDP to 6%+ overnight.
- With China funding these investments, which include SEO’s, through manipulated currency they have a 40% advantage over the U.S, which explains why countries like Germany joined AIIB.
So why is this a big deal? Using AIIB’s manipulated money is kind of like borrowing $100 and paying it back with Mexican pesos that only cost you $60 bucks. That’s why all of the TPP partners, as well as most of Europe, have joined China’s AIIB bank – it’s a 40% off clearance sale and America is left holding the bag.
It is intellectually dishonest to argue that TPP is “China containment” which allows the United States to ‘write Asian trade rules’. By funding the largest world bank, China now has 56 new trading partners, all governed by China’s AIIB rules. In other words, China has already written the rules of trade.
The only chance America has to excel in the global market place is to ensure REAL currency manipulation enforcement is important and strong balanced trade initiatives are enforced. Something Paul Ryan is either unwilling or unable to do.
The reality is that by forming the AIIB, China has positioned itself to control the “TPP Commission” – the unelected body of international bureaucrats that will dictate implementation, future changes and growth of the Trans Pacific Trade Agreement. China will dictate those changes, either de facto through influence, or directly through the docking agreement mechanism. In essence, if the United States Congress passes Paul Ryan’s TPP Poverty Plan, Congress will give our global power to China.