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The Soon Coming Judgment Of God Upon America and How To Escape It 304
estimates are inaccurate and ignore foreign investments in the U.S. Griswold says that trade
deficits lead to a net increase in foreign investment in the United States, which lead to new
jobs.
950
U.S. Census Statistics confirm there has been an enormous increase in foreign investment
in the U.S. and it is true that new jobs are created by foreign investment in the U.S. but I’m not
convinced that the EPI’s statistics are inaccurate. Nor am I convinced that an increase in foreign
investment in the U.S. is good for the U.S.
Table 12-1
All dollar figures are in billions.
Year
Canadian
Merchandise
Trade Balance
Mexican
Merchandise
Trade Balance
Total NAFTA
Nations
Trade Balance
Total U.S.
Trade Balance
In Goods &
Services
1993
-$10.2
-$1.7
-$11.9
-$72.0
1994
-$14.4
-$1.4
-$15.9
-$104.4
1995
-$18.1
-$15.4
-$33.5
-$105.1
1996
-$17.1
-$15.8
-$32.9
-$95.1
1997
-$16.4
-$14.6
-$31.0
-$102.9
1998
-$16.7
-$15.9
-$32.6
-$107.1
1999
-$32.1
-$22.8
-$54.9
-$163.2
2000
-$51.9
-$25.6
-$77.7
-$261.2
2001
-$52.8
-$30.0
-$82.8
-$375.4
2002
-$48.2
-$37.2
-$85.4
-$418.0
Source: U.S. Census Bureau, Statistical Abstract of the United States, 1995, 1998, 2003
.
First, it is unreasonable to think that while U.S. multinationals are moving jobs to low
paying underdeveloped nations with much less regulation that other nations will be building
factories in the U.S. were both wages and regulations are high. It is more reasonable to assume
that the bulk of foreign investment in the U.S. is for the purchase of existing facilities such as the
purchase of Chrysler by Damler. There are also U.S. corporations that have been purchased with
the result of their manufacturing equipment being moved to China.
Second, foreign control of U.S. assets is not necessarily a good thing. As Americans we
would not be much more than serfs if foreigners owned the nation. For example, what if Saudi
Arabia controlled American oil production? What if foreigners owned the controlling interest in
American defense contractors? The Panama Canal was not lost through trade or purchase but it is
good example of something vitally important to our national defense and which is now under the
control of China. Chinese control does not make us better off.
Those who are vying for a NWO would have us sell our nation lock, stock and barrel to
our enemies! While these may be some of the consequences of free trade, it is not the primary
purpose for which NAFTA was created. NAFTA is intended as a stepping-stone to a regional
government and eventually to world government. The next step in this process is an even larger
trading zone to be known as the Free Trade Areas of the Americas (FTAA).
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