Green jobs moving to Europe, China due to EXIM bank closure – Reuters

This affects the Peninsula because Boeing jobs are also at stake in this move. It’s just not happened yet. If you know Boeing employees in Republican controlled districts, like Illinois, you might want to get them to contact their legislators.

There was a lot of Republican wailing about needing to close the EXIM bank down. This “bank” simply was a guarantee by the US government that firms wouldn’t be screwed doing business with corrupt societies like China. So in June, the Republican controlled Congress decided not to extend financing to it any longer. Here are the consequences. Any Republicans out there proud of this? They destroyed 500 green jobs here in the States and moved them overseas, including to China. WTF? How is this progress and job creation?

WASHINGTON, Sept 15 (Reuters) – General Electric Co said on Tuesday that it will move 500 U.S. power turbine manufacturing jobs to Europe and China because it can no longer access U.S. Export-Import Bank financing after Congress allowed the agency’s charter to lapse in June.

and this

Aerospace giant Boeing Co (BA.N) has also said it was considering moving work overseas due to uncertainty over the future of the EXIM bank.

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