In his latest column, Pat Buchanan explains why Republican nominee Donald Trump is right to criticize the predatory trade practices of America’s allies and the shortsightedness of American leadership in enabling the massive trade deficits and outsourcing of production that have become “milestones of national decline.”
From Buchanan’s column:
America’s allies are cheating and robbing her blind on trade.
According to the WTO, Britain, France, Spain, Germany and the EU pumped $22 billion in illegal subsidies into Airbus to swindle Boeing out of the sale of 375 commercial jets.
Subsidies to the A320 caused lost sales of 271 Boeing 737s, writes journalist Alan Boyle. Subsidies for planes in the twin-aisle market cost the sale of 50 Boeing 767s, 777s and 787s. And subsidies to the A380 cost Boeing the sale of 54 747s. These represent crippling losses for Boeing, a crown jewel of U.S. manufacturing and a critical component of our national defense.
Earlier, writes Boyle, the WTO ruled that, “without the subsidies, Airbus would not have existed … and there would be no Airbus aircraft on the market.”
In “The Great Betrayal” in 1998, I noted that in its first 25 years the socialist cartel called Airbus Industrie “sold 770 planes to 102 airlines but did not make a penny of profit.”
Richard Evans of British Aerospace explained: “Airbus is going to attack the Americans, including Boeing, until they bleed and scream.” And another executive said, “If Airbus has to give away planes, we will do it.”
When Europe’s taxpayers objected to the $26 billion in subsidies Airbus had gotten by 1990, German aerospace coordinator Erich Riedl was dismissive, “We don’t care about criticism from small-minded pencil-pushers.”
This is the voice of economic nationalism. Where is ours?
In the U.S. trade picture, even in the darkest of times, the brightest of categories has been commercial aircraft.
But to watch how we allow NATO allies we defend and protect getting away with decades of colluding and cheating, and then to watch Boeing transfer technology and outsource critical manufacturing to rivals like Japan, one must conclude that not only is the industrial decline of the United States inevitable, but America’s elites do not care.
As for our corporate chieftains, they seem accepting of what is coming when they are gone, so long as the salary increases, stock prices and options, severance packages, and profits remain high.
By increasingly relying upon foreign nations for our national needs, and by outsourcing production, we are outsourcing America’s future.
Read the rest here.