Wendy Sherman: “I am for trade. I am for engagement with China. I am for American involvement in international organizations that took…”

“I am for trade. I am for engagement with China. I am for American involvement in international organizations that took the lead in keeping us involved in the IMF. But I am against isolationism, I am against protectionism, and I am against this deal. I want to focus in the minutes that I have on three new developments that occurred today, that I hope Members listening at home or back in their offices will focus on. The gentleman pointed out that this whole WTO thing could take place without granting permanent most-favored-nation status to China. In doing so I think the gentleman focused on what this deal is really about. It is not about us getting access to their markets, it is about them having permanent access to our markets. Corporate America does not see China as a great place to sell things; they see it as a great place to make things to sell here. The best example of that is the fact that India is virtually as large as China, and I have gone the last 3 months without a single business organization saying, 'Oh, my God, there are a billion consumers in India,' because China offers not a billion consumers, but the largest pool of near slave labor available to those who want to manufacture there and exploit the market here.”