Saturday, October 20, 2012

Romney: Drop Wages Below China's And Jobs Will Return

In the last debate, Mr. Romney called, essentially, for reducing American wages below Chinese wages. Then the jobs he sent overseas jobs will return, he says. 

I want to know, will we Americans be required to live in dormitories, too? And what if the Chinese then decide to reduce their wages below American wages? This could go somewhere dreadful.

Romney was responding to the Goldberg question:
Crowley: "I want to ask Carol Goldberg to stand up, because she gets to a question that both these men have been passionate about. It's for Governor Romney.

Goldberg: The outsourcing of American jobs overseas has taken a toll on our economy. What plans do you have to put back and keep jobs here in the United States?

Romney: Boy, great question and important question, because you're absolutely right. The place where we've seen manufacturing go has been China. China is now the largest manufacturer in the world. It used to be the United States of America. A lot of good people have lost jobs. A half a million manufacturing jobs have been lost in the last four years. That's total over the last four years.

One of the reasons for that is that people think it's more attractive in some cases to go offshore than to stay here. We have made it less attractive for enterprises to stay here than to go offshore from time to time. What I will do as president is make sure it's more attractive to come to America again.

This is the way we're going to create jobs in this country."
Suppose, instead of reducing American wages, that we helped to unionize China. Turn it  back into a workers' paradise. Get them some decent wages. That would also bring our jobs back. Without reducing our wages.

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