JBE's Chinese Investment Goes Down the Drain

 Photo source: Inside Sources

Photo source: Inside Sources

Cajun Conservatism recently pointed out that our governor decided to do business with China in this post.  Now, Congressman Peter King (R-NY) addressed, in a recent House Intel Committee meeting, that a Chinese company, Wanhua Chemical, who John Bel Edwards gave state taxpayer money to, is reconsidering their investment in Louisiana.  As indicated in this piece, it is troubling to have an "economic enemy", as President Trump has called China, acquiring American technology.

China aggressively seeks to acquire American technology and intellectual property through multiple vectors including: physical and cyber theft, forced technology transfers, evading United States export controls, export restraints on raw materials, and investments in more than 600 high-technology assets in the United States worth close to $20 billion.

Secondly, this is a clear indication of the trade imbalance that remains between the US and China.  The main reason that this project was cancelled was because of labor and material costs.  The citizens of Louisiana should be rightly concerned about a plant being built with Chinese material and being fabricated by Chinese labor.

 

Posted on July 19, 2018 and filed under Economy, Louisiana, John Bel Edwards.