Stop or I'll Shoot...
Myself! | |
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Q. The
Thompson-Torricelli bill contains a huge menu of unilateral sanctions
intended to check weapons proliferation. But who would these sanctions
really punish? A. American Farmers, because loss of GSM-102 and GSM-103 export credits would eliminate China as an export market for American agricultural goods (China Is presently the 8th-largest such market). China would just buy from someone else. A. American Workers and Companies, who would see critical infrastructure contracts in telecommunications, power generation, construction and transportation go to European and Japanese firms, because U.S. Export-Import Bank funding and export licenses would be cut off. A. American Capital Markets, which would for the first time be used for unilateral foreign policy sanctions, setting a dangerous precedent and "seriously disrupting investor confidence in U.S. capital markets and jeopardizing their continued vibrancy, depth and liquidity", according to the Securities Industry Association. A. NATO Allies, Japan and Israel, who could be subject to extra-territorial export sanctions for selling products to China that are permitted for sale under International agreements, if their companies have a U.S. subsidiary. |
THOMPSON-TORRICELLI PUNISHES AMERICA, NOT
CHINA. | |
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