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The National Flag Bill: Patriotism or Trade Monopoly? (2)

(People's Daily Online)

15:34, July 06, 2012

The U.S. magazine Foreign Policy published an article that points out “the U.S. remains a manufacturing powerhouse” yet does not receive the credit it deserves. Americans are exposed mainly to consumer goods from China and other emerging markets, yet the U.S. remains industry leaders in areas such as machinery and electronic equipment. The magazine also gave very persuasive figures; in 2010, the United States factories’ output totaled $5.03 trillion, an increase of about 9 percent.

The United States controls the exports in high-tech industries and implements “re-industrialization” in traditional industries which in turn creates domestic employment. However this is not on par with the law of division of labor in the era of economic globalization. British Financial Times published an article that says, in the long run the manufacturing plans under the Obama Administration is bound to fail since it is against the globalization. The United States government may end up being the ones paying a higher price from this “twist” of decision.

In order for the United States to keep its status as a manufacturing powerhouse, it cannot rely alone on trade protectionism. The key lies in the innovation within the heart of the global production chain, through the consolidation and expansion of the “Made in the U.S.” sites. It is only in this way can the United States begin the realization of balancing of its own economy and ultimately, help rebalance the global economy too.

Patriotism requires a rational and open-minded character; within an increasingly tight-knit “global village” it is an important trait to have. Being able to look at the pace and also to keep up with the times, accurately grasp development trends, increasing our cooperation and maintain win-win concepts. True patriotism will bring around positive emotional support towards national prosperity.

Read the Chinese version: 爱国主义需要理性开放品格, source: People's Daily, author: Zhong Sheng

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