Economist blames Chinese trade policies for US financial woes

Sep 12, 2012 | 01:47 PM | Michael Cowden

Tags  Metals Service Center Institute, economic forecast conference, Peter Navarro, trade, imports, jobs, unemployment, Michael Cowden

SCHAUMBURG, Ill. — The U.S. economy will not get back on its feet until underlying structural problems are addressed, primarily trade relations with China, according to one economist.

"Mercantilist" trade policies pursued by Beijing are largely to blame for slow gross domestic product (GDP) growth, high unemployment and a host of other economic woes, Peter Navarro, professor of economics and public policy at the University of California at Irvine, said during a presentation at the Metals Service Center Institute’s economic forecast conference in Schaumburg, Ill.

"When Caterpillar (Inc.) takes its plants from Peoria (Ill.) to Chengdu, that is ... a reduction in GDP," Navarro said, citing one example of off-shoring. ....

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