Friday, October 15, 2010

Bill Clinton Paved Way for Toxic Products

Toxic Chinese chemicals in pharmaceuticals killed dozens in Haiti in 1997 and a hundred people in Panama a decade later.  Chinese state-owned companies exported the dangerous chemicals as safe.  In both cases, Chinese officials stonewalled international investigators.

Bill Clinton was President during the first quality nightmare.  Given his strong Haiti connections, surely Clinton knew of this abominable situation.  Yet, he pushed to ease trade with China.  Bloomberg reported:

In 2001, China entered the World Trade Organization to gain greater access to international markets. In return, the government pledged to drop tariffs, crack down on the counterfeiting of Western goods and end favorable treatment of domestic investors.

Those promises persuaded then-U.S. President Bill Clinton to push for congressional approval for legislation paving the way for China’s WTO accession, saying in 2000 that membership would help shift China away from an economy dominated by state- owned firms. 
Compare Clinton's logic in 2000 with actual results.  The toxic chemical story (June 2007) stated:

Most of the buyers did not know that the ingredient came from China, known for producing counterfeit products.

Bill Clinton turned out to be a founding father for the global quality bottom and greed top.  He privatized government functions to the benefit of private equity underwriters (PEU's), worked with Congress to pass Gramm-Leach-Bliley, had the Minerals Management Service (MMS) adopt a voluntary approach to safety/environmental compliance and pushed for greater trade with China.  All four Clinton initiatives ended badly, at least for those not politically-connected billionaires. 

China executed the public official responsible for product adulterations, further proof they have no understanding of quality.  America and the world remain at risk for dangerous Chinese substitutions.  Even China's favorite guizi (Westerners) got taken with toxic products.

Wild Bill delivered for his Robber Baron friends.  He even admitted as much.

If you look at it, we had a global financial economy before we had a global trade economy, and certainly before we had any global environmental and labor safeguards.
How'd Bill allow globalism without safeguards?  Clinton opened the door to abysmal quality and profited greatly ever since.  President Obama hasn't a clue as to how to close it.  Beware Chinese drug ingredients and politicians offering spin.

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