One of the very first people Joe Biden hired for his nascent administration is a long-time Clinton operative who helped ship thousands of American jobs to China.
On Tuesday, Biden announced that Steve Ricchetti will serve as counselor to the transition team. Ricchetti was Biden’s chief of staff when he was vice president. He was also deputy chief of staff to President Bill Clinton.
In the late 1990s, Ricchetti helped Clinton push the Permanent Normal Trade Relations (PNTR) between China and the U.S. The bill also paved the way for China to join the World Trade Organization.
Pres. Clinton tasked Ricchetti to work closely with then-Secretary of Commerce William Daley to gain legislative support for the measure.
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“Our products will gain better access to China’s market in every sector from agriculture to telecommunications to automobiles,” Clinton said</>, adding that China would gain “no new market access to the United States.”
Clinton’s deals eventually went into effect thanks to Ricchetti’s efforts.
But, as Daily Caller noted, those efforts were not good for the U.S.A.:
One widely-cited study from a pair of Yale researchers found that PNTR caused a “sharp drop” in the number of U.S. manufacturing jobs.
“U.S. manufacturing employment fluctuated around 18 million workers between 1965 and 2000 before plunging 18 percent from March 2001 to March 2007,” wrote Yale researchers Justin R. Pierce and Peter K. Schott, in their December 2012 paper, “The Surprisingly Swift Decline of U.S. Manufacturing Employment.”
“In this paper, we find a link between this sharp decline and the U.S. granting of Permanent Normal Trade Relations (PNTR) to China.”
There you have it.
Beijing Biden is already working for the Chinese.
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