Does It Matter China Made the U.S. Olympic Uniforms?
Excerpt:
In a perfect world, here's what Sen. Harry Reid and Rep. John Boehner might have said when confronted last week with the revelation that China stitches together U.S. Olympic uniforms:
"Small potatoes. Call us back after we've fixed the deficit, the economy, Iran, and our real problems with China."
But no such luck. Democrat Reid said we should "burn" the clothes. Republican Boehner said, "They should have known better." Several senators this week spent their time, and the public's money, introducing the "Team USA Made in America Act," which would require that future Olympic uniforms be made—guess where.
...
Says an executive with a U.S. manufacturer that has operations in China: "The comments reflect either a lack of understanding of comparative advantage and how trade works (the Chinese are really good at producing low-cost uniforms, the U.S. is really good at innovative technology and advanced manufacturing—which would you rather be?), or cynical politics. More likely both." He doesn't want to be named and get his company in trouble with the politicians.
It's "grandstanding," says another manager with a tech multinational. "There are far more important bilateral business and trade issues for both countries."
Comment: Why waste an opportunity to divert the focus off important things! (Check your own clothing labels .... I'm wearing a polo shirt today and guess where it was made!). Unfamiliar with the Law of Comparative advantage? Click the link above (in the article)
