February 21, 1972: President Nixon arrives in China aboard Air Force One.
This meeting was the single biggest “American Job Killer” in history. China didn’t take our jobs, greedy CEO’s couldn’t rush there fast enough and throw all manufacturing to China for higher margins, more Corporate profit to the bottomline so the CEO’s could get their bonus checks.
I was receiving a tour through a Silicon Valley technology company when their CEO stopped in the middle of the Engineering area and loudly said, “Morgan, in China I could hire three to five Programmers for the price of one USA Programmer.” When he said this I wanted to reply, “How many CEO’s can we hire in China?” For him to loudly broadcast this message in the middle of his Engineering department was disgusting and huge a “moral killer.” That illustrates the mentality of many (Of course not all) CEO’s.
As Henry Kissinger (Secretary of State) said “On February 21, 1972 when President Nixon arrived in China aboard Air Force One China didn’t even have a stairway tall enough to reach the doorway of Air Force One, they had to quickly make one out of wood.”
• China has overtaken the United States as the world’s largest economy.
• The world’s second wealthiest country by total wealth.
• The country is the world’s largest manufacturer and exporter.
• China is a recognized nuclear-weapon state with the world’s largest standing army by military personnel and second-largest defense budget.
• China has the largest High-Speed railway system in the world, built in only five years.
China didn’t take our American jobs away, we handed it over to them.
