Long Island Plastics Company Blames China For Business Decline
NEW YORK (WCBS 880 / AP) - The vice president of Autronic Plastics in Westbury estimates his company has lost some 90 percent of its emergency exit sign business to China.
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"The last seven, eight years in manufacturing in New York has been challenging. We probably lost about fifteen jobs and tens of millions of dollars in revenue for our company and the state," Daniel Lax said.
Lax is endorsing legislation that he and Sen. Charles Schumer say will help American business compete.
Schumer says New York state lost more than 160,000 jobs since 2001 to China because of what he calls unfair trade practices and currency manipulation.
The Democrat is trying to build an argument for his bill that would target China's currency practices. He expects the bill to pass in the Senate next week.
Schumer says New York companies have been outbid on projects by Chinese companies using methods Schumer says creates an uneven playing field for New Yorkers.
He and his supporters say China has an undervalued currency, uses export subsidies and pays depressed wages that provide an unfair advantage. by slapping stiff penalties on countries that engage in unfair trade practices.
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