- Posted September 28, 2012 by
This iReport is part of an assignment:
Final presidential debate: Unanswered questions
Did Romney Prosper from China's Predation?
1. In order to accumulate massive wealth there must be a major discontinuity in markets and favorable tax laws.
2. China artificially set their exchange rate at 25% or more below the fair value which decimated our manufacturing base over the past 25 years. There are many articles on the Internet including Treasury Secretary Tim Geithner's: http://www.nytimes.com/2010/09/16/business/global/16yuan.html?_r=0
3. Romney and Bain Capital bought up the decimated businesses, reengineered, outsourced, resized, and reshaped and sold them for profit.
4. Did Romney benefit from China's predation and favorable tax law for the rich and foreign banking?
5. Did Romney create wealth for the US middle class or any class except his own?