A long time ago, I added the chart below to my food-stamps page, along with this paragraph:
“When China was admitted to the World Trade Organization in 2001, tariffs were lowered, and it became very profitable for American companies to relocate production to China’s sweatshops. Millions of American jobs were lost, and those former workers have piled up on the food-stamp rolls.”
During the presidential campaign, when food-stamps were an issue, my food-stamps page got a good amount of traffic: 285,000 page views for the year. And I gave permission to other bloggers to publish my chart, which some of them did.
So, I’m taking at least partial credit for what I’m calling the China-WTO meme, which is that the economic back of the USA was broken on December 11, 2001. In case you haven’t noticed, it’s been nothing but economic/financial chaos since then.
And the meme is spreading. You can see it at the 14 minute mark of the video below when John McLaughlin gives “The Bummest Rap of the Year Award” to Bill Clinton:
“Okay, the bummest rap: The rap recited by Bill Clinton to a throng of Democratic Convention delegates that the Republican Party’s policies are responsible for the global economic crisis. Experts say the cause of the ongoing crisis is trade imbalances created by then-President Clinton about 20 years ago when he granted China most-favored-nation trading status and when he — and then negotiated World Trade Organization membership for China.”
However, China’s WTO status did not become official until after Republican George W. Bush was sworn into office. Bush was all for China joining the club, so while Clinton negotiated the deal, Bush permitted it to sail through. While Clinton did NAFTA and WTO, he couldn’t have done it without help from Gingrich and Bush. Destroying America is a bipartisan project.