Political Quotes

“Finally, Mr. President, I would just like to give a little update on what has been happening since we have basically allowed the charter of the Ex-Im Bank to expire. Just as we predicted, that unilateral disarmament in our trade financing opportunities would open the door for opportunities in other countries. We are seeing more and more this delay in basically having a fully functioning Ex-Im Bank is already costing jobs and opportunities in our State. So I want to reinforce that, not by just my words but talk about what is being said about the U.S. Export-Import Bank being shut down as what is good for China and bad for our competitiveness. Today, the Business Standard printed an interview with the head of the Export-Import Bank of India, who said that with U.S. Ex-Im Bank closing down, we would now have more markets because Indian products are going to compete with U.S. products, and now that competition will go away. In a recent Reuters article, the chief risk analyst of the China Export-Import Bank said that the end of the American Export-Import Bank would help China be more competitive. He said, ``With respect to competition in strategy and policies between the U.S. and China, this is a good thing'' for China. Another recent article said China's central bank is injecting $32 billion into the China Development Bank and $30 billion into the Export-Import Bank of China. We are seeing very similar growth in the Export-Import Bank of India.…”