Your China Strategy?

According to this New York Times article it seems many manufacturing CEO's want to see our government more involved the manufacturing industry "along the lines of China, Germany or Japan". It seems these CEO's cannot raise capital to expand their US manufacturing operations because potential financiers want to know what their "China Strategy" is, or how they plan to create jobs abroad instead of the US. The CEO's would like the US government to step in and provide them the capital to expand the US based manufacturing operations since the marketplace refuses to do so. So what was the administration's response to this? Ron Bloom, the administration's special advisor to boost manufacturing, said the administration would like to see manufacturing growth in the US but refused to go as far as agreeing that the government could/should step in and fill the financing void. As usual uninspired and tepid leadership from the Obama administration. As Mr. Bloom said in conclusion “We have been insufficiently committed to manufacturing for a long time, we are not going to fix it in an afternoon.” We're not going to fix that in an afternoon? It doesn't appear they intend to fix it during their first term, even with unemployment hovering around 10% and manufacturers begging for capital to create the US jobs they are ready to make available.

When both labor and management want help from the government to spur growth in the manufacturing sector and the administration refuses to take the steps that everybody but the investment bankers and China want to see it is a fair assumption that the administration isn't very interested in seeing those jobs created in the US despite any claims to the contrary. It also reinforces what I have been saying that Obama and his team are too close to Wall Street and investment bankers when it comes to doing what is right for the country.

I am becoming less and less impressed with this administration each and every day. Their only plan seems to be to protect the wealth of the people who destroyed our economy and want to see less jobs being created in the US.