Cliff Stearns: “And my colleagues, in a recent editorial by The Wall Street Journal, dated September 11, 2012, entitled, ``China's…”

“And my colleagues, in a recent editorial by The Wall Street Journal, dated September 11, 2012, entitled, ``China's Solyndra Economy,'' the owner of a solar panel company in China was unable to repay $3 billion in a bank loan that was guaranteed for his solar panel company. Do you know what happened? He leaped from a sixth floor building because he couldn't repay it. This editorial outlines an unfailing description of all of these different solar panel companies in China that could not repay their loan guarantees. In fact, this summer, the New York Stock Exchange- listed company LDK Solar, which is the world's second largest polysilicon solar wafer producer, defaulted on $95 million owed to over 20 suppliers. The company lost $600 million in just the fourth quarter of 2011 and another $200 million in the first quarter of 2012, and it has already shed 10,000 jobs. It goes on in this article to point out that the Chinese are doing the wrong thing--they're picking winners and losers--and these people who are losing are the people who can't pay back their loan guarantees. Some people in Washington seem to feel that we should compete with China. We have this China envy. In fact, this is what the President said: I will not cede the wind or solar or battery industry to China because we refuse to make the same commitment here.…”