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Who started the outsourcing with China?

July 7, 2012

The Obama campaign keeps trying to smear Romney by saying he was a major outsourcer of US jobs to China. This claim comes from When Mitt Romney worked with Bain Capital, a venture capital company he founded in 1984, he left in 1999. A definition would help here venture capital is: Funds flowing into a company, generally during pre-IPO process, in the form of an investment rather than a loan. Controlled by an individual or small group known as venture capitalists, these investments require a high rate of return and are secured by a substantial ownership position in the business. I would like to write a great story here on this but factcheck.org already did with all the real facts, here is the link to it.

http://factcheck.org/2012/06/obamas-outsourcer-overreach/

Consider this, Bill Clinton was the one that gave China back it’s “most favored nation” trading status. That was the beginning of it, granted President Clinton did not create outsourcing with China, but his action created the opportunity for it. We were making around $445 million a year on tariffs, duties and penalties from Chinese imports into the US at that time, now we borrow money from them. Here is an article from the time it happened to shed a little background on it.

http://tech.mit.edu/V114/N27/china.27w.html

The politicians can say what they like, it is up to us to find the truth. Our fore fathers gave us Freedom, it is up to us to maintain it!

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