Subscribe free to our newsletters via your
. Military Space News .

China 'gaining fast' on US, warns Romney
by Staff Writers
Mount Vernon, Ohio (AFP) Oct 10, 2012

Mitt Romney on Wednesday warned that China was "gaining fast" on the United States and could become the world's top economy, but insisted American manufacturers will compete with China and win if fair trade prevails.

China is "growing much faster than we are," Romney said in a hat tip to the Asian giant during a campaign stop in Ohio, a Midwestern state where manufacturing has suffered in recent decades.

"So they're gaining fast," he said, citing breakneck Chinese growth of seven to eight percent.

"They're smart, capable people, and productive," Romney added.

He said that what Beijing has aggressively done, particularly during the administration of President Barack Obama, is "taken advantage of our laxity in enforcing fair trade."

But if Washington calls Beijing to account and China acts like more of a fair trader, "we will compete with China and we will win, with the most productive, innovative people in the world," Romney said.

"We will not allow them to keep taking our jobs."

The world's two biggest economies have lodged a number of complaints against each other in the World Trade Organization -- part of Washington's bid to use trade rules to beat down China's huge bilateral trade surplus with the US.

Critics in the United States and other developed economies accuse China of keeping its currency deliberately low to flood the world with exports of inexpensive goods, devastating the manufacturing industry elsewhere.

The Obama administration has repeatedly urged Beijing to let the yuan appreciate, but has stopped short of declaring China a currency manipulator -- a designation that could trigger sanctions and perhaps an all-out trade war.

On Wednesday, Romney repeated his threat to slap China with the 'manipulator' designation on Day 1 of his presidency.

"This can't go on. We've looked the other way for a long time" when China was poor and as it became an emerging economy," he said.

"Now they're serious; they're taking jobs, and we've been looking the other way for too long."


Related Links
Learn about the Superpowers of the 21st Century at
Learn about nuclear weapons doctrine and defense at

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Chinese nationalists covet Japan's Okinawa
Beijing (AFP) Oct 10, 2012
In a glass case at Beijing's Imperial College, an 18th century book with a yellowed title page in bold, black characters is evidence - some Chinese say - that a swathe of modern-day Japan belongs to China. The two Asian powers are already at loggerheads over a set of tiny uninhabited islets in the East China Sea, even stoking fears of armed conflict. But the most aggressive Chinese nat ... read more

Northrop Grumman Completes SBIRS HEO-3 Payload Integration and Ambient Functional Test

Report: Funding for Iron Dome could be cut

Israel deploys Patriot missiles near northern port

'No flexibility' with Putin on missile defense: Romney

Raytheon awarded $349 million US Army contract for TOW missiles

UN's Ban alarmed by North Korea missile claim

Raytheon awarded US Army contract for TOW missiles

New US-SKorea missile deal to help Seoul defense: US

Two Global Hawk Unmanned Aircraft Fly in Close Formation, Move AHR Program Closer to Autonomous Aerial Refueling

Lockheed Martin-Led Industry Team Receives $13.5 Million Contract to Develop New Autonomous Technology Aboard Unmanned Aircraft

US drone strike kills five 'militants' in Pakistan

Israel shoots down unidentified drone

Lockheed Martin-Led Team to Begin Work on $4.6 Billion Defense Information Systems Agency Contract

Raytheon to provide Joint Tactical Terminal radios with latest security features to US Navy

Northrop Grumman Awarded Contract to Extend BACN Communications Connectivity to the Tactical Edge

Hughes Awarded Custom SATCOM Solutions Contract by GSA

4,000 tonnes of old munitions explode in Russia

Lockheed Martin Completes Centralization Of Targets and Countermeasures Operations in Huntsville

US hails war vehicle that saved lives, bypassed bureaucracy

Raytheon MALD-J Decoy Goes 4 for 4 in Operational Flight Tests

Germany feared bridesmaid role in EADS-BAE venture: analysts

Boeing, KAL-ASD Broadening Defense Collaboration for Miltary Aircraft

BAE Systems to battle on after merger plan collapses

Raytheon studies intelligence analysts' tradecraft to learn more about decision-making process

China 'gaining fast' on US, warns Romney

NATO names Allen to succeed Stavridis as supreme commander

Obama slams Romney on Iraq

Chinese nationalists covet Japan's Okinawa

Drawing a line, with carbon nanotubes

Nano-hillocks: Of mountains and craters

Nanoparticles Glow Through Thick Layer of Tissue

All systems go at the biofactory

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement