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 Summary of problems and solutions:

We believe: foreign ownership of U.S. assets and IOUs to foreign countries create a long-term problem. Our elders are selling our resources out from under us. They are accumulating a massive debt to foreigners without regard to the cumulative effect that this will have on future generations.

 

We believe: free trade must mean the same thing to all of our trading partners. We must either enter into free trade agreements with our trading partners or agree on the same set of free trade rules to make sure that we are competing on a level playing field. We should not allow other countries to tip the scales in their favor by applying tariffs or quotas to keep our products out.

 

We believe: that trade must not only be free, but also fair. We have a human rights obligation to ensure that companies don't cut costs and skew the balance of trade at the expense of their workers and the environment.

 

We believe: currency manipulation cannot be tolerated. Countries that "peg" or artificially deflate their currency to keep their prices low relative to ours  should not be allowed to hijack our balance of trade.

To fix the problem, we should:

 

Solution 1: Trade only with countries that genuinely have free trade. The rules of free trade must be clearly defined. They must be spelled out in an agreement with our main trading partners. If we don't enter into an agreement with a particular country we trade with, we should enforce the WTO global rules and standards and terminate trading relations with those countries who overtly or covertly violate these rules.

 

Solution 2: Enact a fair trade law that defines the rules and standards that companies must follow when it comes to the treatment of their workers and the effect their factories have on the environment. No trade should take place between trading partners who do not abide by these rules.

 

Solution 3: Prohibit currency manipulation by including currency rules into each of our trade agreements. Harsh penalties must be imposed for those who do not play by the rules. Blatant currency devaluation should be treated as a trade crime.

 

Solution 4: Require that the money we borrow from abroad is invested productively. The dollars that United States borrows as a result of a trade deficit can no longer be squandered away on more consumption at home. We should require that this money is poured into infrastructure, education, research and development, or other industries that make us productive. We would begin exporting more, leading to a balancing of our trade, making America more competitive for the long-term.

 

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