Vehicles made at the venture will carry the FAW brand and will focus on supplying the China market, but they could be exported under a GM brand through the Detroit automaker's global network in the future, Wale said.
Q: The flip side to fair trade: how do you convince a working family that’s struggling to get by that buying American is still best for them, when American T-shirts cost $20 and imported ones are $10?
A: Look, people don’t want a cheaper T-shirt if they’re losing a job in the process. They would rather have the job and pay a little bit more for a T-shirt. And I think that’s something that all Americans could agree to.But this raises a larger point, which is:
globalization is here. And we should be trading around the world. We don’t want
to just be standing still while the rest of the world is out there taking the steps that it needs to in order to expand trade. Congress has a responsibility because we’ve got right now provisions in our tax code that reward companies that are moving jobs overseas instead of companies that are investing right here in the US. And that is a reflection of the degree to which special interests have been shaping our trade policy. That’s something that I’ll end.
For far too long, certainly during the course of the Bush administration with the support of Sen. McCain, the attitude has been that any trade agreement is a good trade agreement. And NAFTA did not have enforceable labor agreements and environmental agreements.And what I said was we should include those and make them enforceable. In the same way that we should enforce rules against China manipulating its currency to make our exports more expensive and their exports to us cheaper.