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This page contains a single entry from the blog posted on January 20, 2009 11:42 AM.

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« No pink slips, just voluntary pay cuts | Main | Goodbye, Guangdong »

Dear Mr. Obama

Congratulations on becoming the 44th president of the United States, which is already changing this nation's history. But there is a lot more you can do to impact the direction America is headed, one of the most significant tasks being rescuing the ailing economy.

As I compare the economic policies and plans laid out by Beijing and Washington, it appears to me that China is sticking to concrete and tangible value-creation. Its US$586 billion stimulus package is aimed to boost infrastructure, industrial innovation, transportation, post-disaster construction, as well as environmental protection. In addition, the Chinese government, on all levels, is doing everything it can to preserve and support businesses -- big and small; state-owned, public and private. Such measures include higher export subsidies, lower business taxes, streamlined regulative procedures, more accessible loans, etc. Moreover, Beijing has also made very specific plans to promote manufacturing industries such as automotive, petrochemical and industrial equipment.

Here in America, like every other tax payer, I'm seeing cash being injected - over and over again - into financial institutions, which still keep their coffers locked and refuse to lend money to troubled mortgage holders and business owners. Yes, the Big Three in Detroit eventually received U.S. Treasury loans, but what about the rest of the manufacturing sector? What has been offered to support plastics molders and suppliers across the country? While we bemoan the accelerating loss of jobs, we still hear that businesses may even need to pay more taxes in order to keep the government and the financial industry running. Then, how are they expected to compete with overseas counterparts and keep jobs in the U.S.?

Dear President Obama, I'm a loyal observer of and advocate for global manufacturing. I look forward to more details about your plans to create jobs and turn around the U.S. economy - and, of course, real actions.

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