Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-11-22-Speech-4-094-000"

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"en.20121122.9.4-094-000"2
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"Mr President, the real problem is all manufactured imports from, and all relocations to, China and other emerging economies. Indeed, the problem lies with ourselves, or rather with yourselves – addicted to neo-liberalism and the economic and political ideology of globalism. I will let you into a secret. China might have transformed itself into a capitalist economy and country but it is not neo-liberal. It competes with us with artificially depressed wage levels, which not only reduce costs, but also prevent the development of a market for imports from the West. Flagrant patent violations, 19th century working conditions, cheap state loans and subsidies and a grossly under-valued currency. In the meanwhile, they are stock-piling resources and Western currencies. If you think that global companies originating in the West are on our side, remember they are eagerly relocating where the costs are lowest and the conditions worst."@en1
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