Thread: Donald Trump: US losing edge to China!

Monday, Oct. 9, 2006 11:05 p.m. EDT
Donald Trump: U.S. Losing Edge to China


Real estate tycoon Donald Trump lashed out at the U.S. government on Monday for allowing China to gain the upper hand in trade, which he said had partly led to a loss of U.S. jobs and shrinking of the middle class.


Trump, promoting his new book, "Why We Want You to be Rich," written with real estate investor Robert Kiyosaki, said Americans were facing life in a two-class society where they could either be rich or poor.



America's middle-class was shrinking as the country lost its manufacturing base and jobs to inexpensive imports, Trump said in an interview at his Manhattan office, pointing especially to China.


"If you want to open a business in China, it is virtually impossible," Trump said. "And yet, if China wants to come here and do something, there is no problem whatsoever."


The U.S. trade deficit with the world has grown. Between January and July this year, it rose to $453 billion compared with about $398 billion in the same seven-month period last year. Much of that is due to rising exports from China.



"Maybe you have to literally restrict trade," said Trump, known to millions as the star of "The Apprentice" television show. "Because it is not going to be fair, why should you allow it to happen?"

Trump, who is chairman of Trump Entertainment Resorts Inc., said the U.S. government had given China the advantage, and failed to promote the interests of U.S. businesses in negotiations.


"China is doing a major number on the United States," Trump said. "If we had politicians that knew what they were doing, they would stop that so fast that your head would spin."


Turning to the U.S. housing market, Trump said that although the real estate market was no longer as strong as it was two years ago, it was holding up, especially at the high end.




Trump said he recently put a house in Palm Beach, Florida up for sale for $125 million.

"The market for that stuff has been very good," Trump said, adding that interest rates were still low enough for people to want to buy properties.


"It's not like in 1990, where if somebody would walk in and look at an apartment, you considered it a successful day," Trump said.

http://www.newsmax.com/archives/ic/2006 ... shtml?s=mo

Way to go Donald!

Why shouldn't China be leading? After all, we've given them technology, top secret info, back down at every turn, Most Favored Nation, a seat on the Security Council and OUR MANUFACTURING.

Hey, they're sure not the stupid ones here.