Mitt Romney’s Grasping At Foreign Straws With China Hypocrisy

Mitt Romney continues his “Stumblin’, Bumblin’, Fumblin’ &amp Tumblin’” in the polls tour.

His latest diversion is CHINA:

Let’s take a look at Romney’s hypocrisy when it comes to his own dealings with China. While Romney promises he’ll take our Asian ally “to the mat,” Romney stands to profit from several investments in Chinese companies that use the same unfair trade practices he promises he’ll combat.  We now know that Romney has continued to invest in China.

Let’s review the facts: 

Romney  STILL holds  substantial investments in China through Bain Capital.

Bain Capital funds are invested in GOME, a Chinese electronics company.  The company is being sued by Microsoft for piracy.   Read about it here and here.

Romney dumps his shares of Cnoc Limited.  Apparently the company is a Chinese state-owned oil company.  He dumped his stock shares, just before his tough-talk stance during the presidential campaign.  Read about it here in the NYTs.

Romney criticized the Chinese for IP theft.  But check out his 2011 tax return.  It reveals that he invested in a Chinese version of YOUTUBE, which quickly became a haven for downloading ilegal American content.  And just like Cnooc, Romney didn’t dump his shares until he started ramping up thhe China rhetoric.

Read about here at BuzzFeed: Romney Dumped Shares In Chinese Video Giant That Was Piracy Haven

Here we go again with the REPEAT, but this is what a good teacher does.  REPEAT, REPEAT, REPEAT.

As CEO of Bain Capital, Mitt Romney invested in companies that were “pioneers’ in OUTSOURCING, especaially to low-wag countries like China.  Romney is proposing to eliminate taxes entirely on profits U.S. corporations earn overseas.(TERRITORIALTAXATION)  That’s 800,000 jobs overseas, including jobs in China.

Read how Mitt Romney’s company Bain Capital invested in a series of firms that specialized in relocating jobs done by American workers, to new facilities in LOW-WAGE countries like China and India here, and his proposal to allow mulitnational investing overseas to NOT PAY U.S.TAXES here. 

Economist Kim Clausing:  Under A Territorial Tax System”The Tax Incentive To Locate Jobs in Low-Tax Countries Would Increase Significantly = Increase Employment in Low Tax Countries by 800,000 Jobs.  A Challenging Time for International Tax Policy-Tax notes

Mitt Romney has criticized President Obama for taking aggressive action against China on behalf of American tire workers, the very workers who will be welcoming Romney to Toledo this week. We’re sure the tire workers will give Romney a rousing welcome and then remind him how he turned his back on them, while President OBAMA stood up for them.

Romney’s “Protectionism stifles productivity” mantra  from his book No Apologies-page 133, while attacking the president for defending American tire companies from foreign competition may play well for him politically, but it does not bode well for our American workers.  The Obama campaign has repeatedly held out its Section 421 action against Chinese tires as an example of President Obama’s supposedly tough China Policy-  

MORE FACTS:

President Obama launched a trade case at the WTO to challenge ilegal Chinese subsidies of ts automobile and auto parts industries.  In fact, since PBO has taken office, his administration has filed more trade cases against China in one term than his predecessor did in TWO.  WTO List of Disputes Cases-9-15-12. Cleveland Plain Dealer-916-12

President Obama creatd the Interagency Trade enforcement Center to bring experts together to fight unfair trade practices by nations including China. Source- Bloomberg

As Mitt Romney continues to REBOOT his fledgling campaign, voters across OHIO  and America will be asking how he can hold CHEATERS accountable, when he’s invested in their SUCCESS.

MORE…

Mitt Romney is the majority shareholder in Bain Capitol, which owns Sensata. It is true that Romney is no longer the CEO of Bain Capitol – but as the company’s majority shareholder HE CAN FIRE THE CEO. This idea that Mitt “can’t do anything” is a pure right-wing bull. He can, and chooses not to.

Adding insult to injury, the Romney campaign has immaturely and childishly justified their inaction by suggesting that the President shares the blame because his pension as a State Senator holds Sensata stock in it’s portfolio – a portfolio that individual pensioners have little control over.

“It’s OK to send 170 jobs to Red China because this other guy hasn’t divested” is a crap excuse.

The answer is NOT to divest from Sensata – the answer is to have Mitt pick up the phone, and stop this move overseas and keep Sensata an American company!

Please visit www.bainport.com to learn more about the plight of the 170 employees whose jobs Mitt Romney is sending to Red China, or go to Amy Goodman’s Democracy Now! interview with the hard working folks Mitt Romney is putting out on the street. @ DEMOCRACY NOW.

And this Repost is for our friends in OHIO:

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About Ametia

I am a Spiritual traveler, a devoted wife, mother, sister, lover of dream study, reading, theater, music, dance, and thought-provoking discussions on love, life, humor and service.
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4 Responses to Mitt Romney’s Grasping At Foreign Straws With China Hypocrisy

  1. SouthernGirl2 says:

    The ED Show – New Details on Romney investment in China

  2. SouthernGirl2 says:

    Stephanie Cutter Mitt Romney and China

  3. Ametia says:

    Mitt Romney likes to talk tough on China—but he’s maintained extensive investments in Chinese companies that use the same unfair trade practices he says he’ll combat. As a new Obama for America ad points out, Romney seems to have no problem with Chinese companies stealing America ideas if it means he can make a profit: http://bit.ly/OpR7gV

    TNR on when “when Romney was anti-anti-China, not so long ago”: http://bit.ly/P5B8Pj

    It’s not just China. Romney’s tax returns reveal he repeatedly bet against the U.S. dollar by investing in Swedish, Norwegian, Canadian, and Austrian currencies: http://bit.ly/Q03EUZ

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