Romney - China Job Creator, American Job Hypocrite

In campaign speech after campaign speech, Mitt Romney faults President Obama for not being tough on China and pledges that he will get tough on China starting on his first day if office.

what eye thynk:  Romney as Hypocrite is in full bloom on this issue.

In 1998, while still in charge at Bain and after a visit to China, Mitt Romney spoke to the Federal Reserve Bank in Boston describing a Chinese factory where people “were working, working, working as hard as they could, at rates of roughly 50 cents an hour”. This was presented to explain and recommend that U.S. companies could profit by sending manufacturing jobs there.  Sadly, I find it very easy to imagine his excitement at this chance to take advantage of the poor--even if they are in another country.

Today, Romney has approximately $2.25M invested in three Bain funds, all of which have large stakes in at least eight Chinese businesses…where people continue to work, work, work for wages that a Bain confidential prospectus quotes as 85% lower than wages paid in the U.S. This prospectus continues to promote Romney’s original recommendation that moving jobs to China will result in higher profits. As a matter of fact, Bain is currently in the process of closing an auto parts factory it recently acquired in Illinois and moving all those jobs to China. And, yes, Mr. Mitt (I-Will-Get-Tough-On-China) Romney will profit from that too.  

Mr. Mitt (I-Know-How-To-Create-American-Jobs) Romney seems to be missing in action at this point.

When questioned about the profits he is personally making on moves like this, he responded: “Only the president has the power to level the playing field in China. No private citizen can do that”. So, in other words, its legal and he’ll continue to profit from it while also continuing to rage at the current administration that it is not only unfair but is destroying the economy of the country that he says he wants to lead and whose economy he says he knows how to fix. Following that chain of rationalization makes me dizzy.

Bain’s official response to the same question was that its Chinese holdings “are consistent with the widely accepted principle that the private sector has a critical role to play in the continuing interdependence of the world’s economies”. Which sounds to me like an escape hatch for a Romney presidency to continue the siphoning off of American jobs. 

Simply put, this boils down to the fact that Romney continues to use current government policies to rake in every penny he can while at the same time campaigning against current government policies that allow him to rake in every penny he can...even if it costs American jobs.

Hypocrisy, thy name is Romney.