icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

US better look at its own ‘slave labor’ problem before banning imports from China - Professor Wolff to RT’s Boom Bust

US better look at its own ‘slave labor’ problem before banning imports from China - Professor Wolff to RT’s Boom Bust
In a move that could further escalate the US-China trade war, Washington is getting ready to ban agricultural imports from western China’s Xinjiang region, alleging that those goods could be produced with forced labor.

RT’s Boom Bust sat with the author of ‘Understanding Socialism’ and the host of Economic Update, Professor Richard Wolff, to discuss the possible ban which is set to restrict tomato and cotton imports from the region. 

“Very dangerous slippery slope,” Wolff said referring to the planned move, which he calls purely political as the US tries to use China as “a whipping boy.”

He pointed out that the US has around 2.5 million prisoners, many of whom get wages from 20 to 40 cents an hour. “That’s effectively slave labor. And those companies that are working with American prisoners to produce goods are using slave labor.” 

The analyst added that American firms working in China should not react to “the political noise.” While the Trump administration has been actively trying to force the firms to relocate amid the escalating tensions, most are still not going to pack their things. 

“Business is doing business as usual in China, they are making enormous profits as they have,” Wolff noted, adding that the companies are not going to make any expensive decisions before the elections, hoping that this "scapegoat" rhetoric may go away.

For more stories on economy & finance visit RT's business section

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.