Tim Bishop Quotes
Foreign trade clearly holds down the cost of products we buy.
The United States had been running a large trade deficit with China.
What was true in the 18th century seems to also be true in the 21th.
Samuel Langhorne Clemens, 1835-1910
Foreign trade creates jobs and eliminates jobs. The people who lost jobs as the result of increased foreign trade are readily identified while the job beneficiaries may never know the reason. So it is a hard political sell even though most of the economic studies have showed that more jobs of more value are created by trade than lost. However, the losers are generally blue collar workers while the beneficiaries are generally white collar and knowledge workers. So there is a socioeconomic class differentiation in the trade issue.
He was advocating a relationship with the American Revolutionaries and some skeptics were concerned about what would maintain the relationship over time.
Despite this economic reality, many underdeveloped nations sell their raw materials because it is easier than the alternative which takes capital investment in processing plants and equipment, training of workers, and establishing a marketing mechanism. Most third world nations are limited in their capacity to do this but they have abundant natural resources.
Timothy Howard Bishop is an American politician who served as a U.S. Representative for New York's 1st congressional district from 2003 to 2015. He is a member of the Democratic Party.
