Perhaps the Chinese government can teach Geithner a thing or two about how to support business.
While Washington and business groups have for some time expressed anxiety over Beijing's "indigenous innovation" policy, meant to promote “Chinese technology” by favoring domestically developed products in government procurement and other areas, which the US does not, Chinese citizens are working and US Citizens aren’t.
According to the US Central Intelligence Agency (CIA) world factbook for 2010 China has a 4.30% unemployment rate compared to the US currently over 11.44%
Perhaps that’s the reason why so many American jobs have been lost since the mid 1980’s, our Bank bred Government economists, are lost as to how business should be supported by government because they are watching their bottom line, and not looking in the faces of Americas workers.
Government teaches that the economy is like war. And as such you never look in the face of the enemy, but the working poor in America aren’t the enemy! Those in government that support outsourcing are! Governments MUST support domestically manufactured products and technology, as China has set as a world example. By outsourcing even the weapons our service personnel use in day to day combat as well as the parts for military equipment, which is a part of the US Strategy, the government, creates a dead zone in the US economy, which has allowed a free fall in the US unemployment numbers.
All the talk in the world isn’t going to find jobs in America for Americans. And there will be no change in the US Economy until the government strategy, supported by big business, and their profit motivation, comes to grips with the reality that by sending jobs across the vast reaches of the globe, America is being reduced to yet another third world economy, while China once looked at as a back woods nation is strong enough today to financially support the US by buying our deficits financed through Bond sales.