It has been said that the manufacturing sector is a small percentage of the working American economy and that it is an affordable expense to have this industry perish as collateral damage to the new world trade economy. If manufacturing is so worthless, why is Asia building up its economy around it in a bloody way?
Free trade without proper, managed moderation has created a devastating chain of economic events that I believe has reached the point of no return. Now we ask ourselves, how do we stop the American and all other nations' economies from crashing?
When this country wakes up and realizes that the banking system has a full burden of bad loans, I can only imagine this will lead to a bankrupt government.
Large manufacturing firms have invested millions in China. For us now to put up barriers would probably financially destroy them, meaning huge corporate bankruptcies. That in itself would surely crash the economy.
I believe many changes need to be implemented at an emergency pace: barriers, public awareness and very serious government incentives to reopen American factories, in faith that we divert a U.S. corporate meltdown.
In closing, I am not impressed with any of the presidential candidates. Actually, I am frightened. If I don't see a potential candidate that will correct this situation, I will run for president and correct it myself.
Michael E. Mirante
M&M Tooling Inc.
Wood Dale, Ill.