Mike Bloomberg on Free Trade
Mayor of New York City (Independent)
He has advanced a more moderate view of China's leadership than some other candidates, saying in 2019 that Chinese President Xi Jinping is "not a dictator" and that Beijing is making progress on climate goals.
He opposes Trump's trade war with China, calling it a "failure of our government" and arguing that it is hurting the economy, costing jobs, and slowing innovation. He says China's unfair trade practices need to be addressed through negotiation.
He argues that trade with China is good for consumers and the US economy, but that China needs to further open its markets to US companies. He has previously said that expanded trade puts pressure on Beijing to "act responsibly" on the world stage.
He supported the Obama administration's Asia-Pacific trade deal, the Trans-Pacific Partnership, which Trump rejected. He opposes Trump's trade war with China, arguing that it is hurting the economy, costing jobs, and slowing innovation. He calls for China to further open its markets to U.S. companies and says that its unfair trade practices need to be addressed through negotiation. He has argued in the wake of Trump's imposition of tariffs that Congress should exert more oversight over presidential trade powers.
Through his US-Africa Business Forum, he has been a proponent of expanding trade and investment ties with African countries. Bloomberg Philanthropies also brings together government and business leaders to promote trade.
As a businessman, and now as mayor of the world’s largest financial capital, I believe the opposite is true: Chinese growth is, in fact, an opportunity for the US and the world, because the global economy is not a zero-sum game. We all share in each other’s success.
A growing China creates jobs for our export producers, keeps consumer prices low, expands our choice of goods and services, and increases our access to capital and talent. It also intensifies pressur on China itself to act responsibly on international issues, including security, trade, product safety and climate change. Our serious differences with China in these and other areas must not used as excuses for short-term retaliatory measures.
The mayor’s most striking remarks were about economic inequality, as he voiced views not widely articulated by his fellow Republicans. “This society cannot go forward, the way we have been going forward, where the gap between the rich and the poor keeps growing,“ said Bloomberg, a former Democrat. ”It’s not politically viable; it’s not morally right; it’s just not going to happen.“
He blamed ‘’the abject failure of public education in this country’’ as a major cause of inequality, arguing that too many young people had not been given the skills essential for a technologically advanced economy.
Those countries previously enjoying double-digit growth through low labor costs are in for a rude awakening. When your raison d'etre is "cheap," no one makes much and anyone more desperate can undercut you anytime. Low wages, low profits, and low taxes where there are high social service demands eventually lead to serious unrest.
Much strife lies ahead. By comparison, America's labor force is mobile and willing, even anxious, to learn new skills.
America's concentration on value-added industries (as opposed to commodities businesses that compete based on price) puts it in a position to maintain margins and salaries, America's competitive position couldn't be better.
|Other big-city mayors on Free Trade:||Mike Bloomberg on other issues:|
Tom Barrett (D,Milwaukee)
Bill de Blasio (D,NYC)
Rahm Emanuel (D,Chicago)
Bob Filner (D,San Diego)
Steven Fulop (D,Jersey City)
Eric Garcetti (D,Los Angeles)
Mike Rawlings (D,Dallas)
Marty Walsh (D,Boston)
Rocky Anderson (I,Salt Lake City)
Tom Barrett (D,Milwaukee,WI)
Mike Bloomberg (I,New York City)
Cory Booker (D,Newark,NJ)
Jerry Brown (D,Oakland,CA)
Julian Castro (D,San Antonio,TX)
Rudy Giuliani (R,New York City)
Phil Gordon (D,Phoenix)
Tom Menino (D,Boston)
Dennis Kucinch (D,Cleveland,OH)
Michael Nutter (D,Philadelphia)
Sarah Palin (R,Wasilla,AK)
Annise Parker (D,Houston)
Jerry Sanders (R,San Diego)
Antonio Villaraigosa (D,Los Angeles)