Jesse Jackson is anxious that the $787 billion federal stimulus package be used to help our nation regain its economic strength – rather than make us beholden to overseas labor.
Interviewed at the America’s Future Now conference in Washington, D.C., Rev. Jackson warns against escalating trade imbalances.
“We have to reinvest in America’s infrastructure and manufacturing capacity. We need to get up to capacity to make shoes and steel and iron and clothes and auto- mobiles – and stop surrendering the manufacturing sector to cheap labor abroad,” he tells corres- pondent Matt Bader.
“I was in Malaysia about a month ago. And I went to the BMW plant, where workers – at max – $6,000 a year, making BMWs that sell for $60,000. Massive profits.
“Well, would you make a car in Detroit or make a car in Malaysia?
“I went to a place called Free Shell. They make computers, laptops and microchips and micromemory – the whole range of electronic infrastructure. Workers there make $2,500 a year.
“So unless there is some plan to deal with balancing trade, we cannot survive as a manufacturer. We offer them bridges, they offer us walls.”
Rev. Jackson also calls Uncle Sam’s bailout of General Motors a “gift of bankruptcy” whose terms “cannot be allowed.”
To hear Rev. Jackson’s full interview, click here.