Why you should 'buy American'
Author Alan Uke explains why product labels should tell us more
- Duration 6:52
- Date Apr 11, 2012
Author Alan Uke explains why product labels should tell us more
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Welcome back on Gregg -- there is a bipartisan movement is gallery support.
It just may save America and it has something to do -- -- this book.
Buying America back and the author -- UK joins us now thanks so much for being with us for tiger.
You tell me what's in this book.
What I'm suggesting is that we need to change the country of origin labels we have now so they have a lot more information like we have on food labels so you know the spread of how -- is coming from where border trade balances are with those countries in the nationality to manufacture so when you make a purchase what you might be just -- good for me.
Is this good for the economy in my future.
Because money runs out of the country doesn't come back it hurts us -- some purchases are just fine though even from certain countries that have fair trade.
-- and what if what if it.
Made in China for example -- cheaper.
And some ways better.
Well it depends on how how much better how much cheaper and all that but usually do when we need 1% of the of the consumer spending to change -- make -- big change in the job market because that of the economy which is 151000000000010.
Trillions consumer spending.
So people 1% shift it's a hundred billion dollars.
That's one point three million jobs.
Sort of a 5% shift you know it's it's like you know suddenly jobs you know our unemployment problems.
Much gone and that's what countries like Germany and Japan and Korea have done -- they've given their home team advantage they try to buy their own stuff.
Not always you know but if there's if it's anywhere near to a close to a decision.
You know and that's raise their raises the -- wages and it stabilize their countries and so we gotta give herself like.
Please -- point near the home team we got to hope for don't.
Your -- points down you guys weigh in on this.
There's some countries that are actually doing it -- rack right there there's a buying preference in places like China Korea and Japan.
So maybe we need need to -- bit better job legislative standpoint how do you how do you make this happen.
Was it just there's a bill being prepared to congress -- working with the with the congressman and on.
What will happen is that.
This label we'll have a percentage contacts -- week and things are made one country generally anymore so what -- have to have you point 2% American 70% whatever -- -- -- create.
And -- see the spread this is like the food and -- we only have to make small ship and so if you have something here that's entirely in China this has got 20% American content you make that that shift you know that's that's you know 1% American purchase.
Also certain countries like China trying not to buy American goods and so they have 25% trade mission which means every dollar -- from them that my 21 century must.
The largest -- to have -- scrap steel and Paper.
And we we armed.
Could also buy from Korea which is got a 79% tree gracious of 79% that money bounces back vs 25% for Taiwan just 73% to don't have to drive -- -- by American.
You can buy from.
Partners that have more even trade helps or export more.
I think I think it's fantastic I mean there's a big movement in the investment community -- to invest in companies that are American companies now for people who aren't.
Buying stocks very often for middle class families that are.
In -- sort of they're major investment is the consumer product that they purchased.
This is a way of investing in American companies this is a way of sort of you know patriotic -- spending their money into the question I have is spent and I do think that manufacturing.
Especially under the past three years of the above them and administration has rebounded a little bit from the slip and sliding away that it had done and there.
Under -- the question I have is what do you say to the sort of critics that.
Say you know we're going down this path toward globalization right now we live in an extremely globalized world.
This seems the sort of idea of of spending in a protectionist way seems almost a little bit.
-- -- -- -- -- Well actually it's not it's how the game's played is is that you know in in China or Japan and Korea Germany France you know -- they.
People buy their own stuff must as a major difference in in cost -- price or whatever and most things there are small differences.
And back to on the economics of it.
Consumer products are different to general products we're sitting here if we want -- the most efficient cheapest things we would be wearing jumpsuits.
Okay we're not willing suits like this color the -- or whatever and -- -- I didn't do anything.
So these are all personal preferences or cars aren't -- or -- against -- -- fuel windows through which you want your houses don't look like a pyrrhic.
You know different interest in the policy you know everyone makes these personal choices and which you have to do is actually a personal choice and -- -- decision you know.
This is better for the economy because this is a country that -- must also or Scott.
More American all American continent and you do enough of that you know which is only a few percent in years that shift did it it.
Solve the job problem is that is that label focus more on.
Where it's manufactured or the -- -- -- materials as well things I think there's an environmentalist -- here -- if you percentage reduce you know the footprints of a product that global footprint of our product waltzing it's going to be percentage content by country and by the way just to that -- You can ideologically I'm going to have this information that's what this book is half the book is about countries and and how they rate environment we -- human rights and -- that.
You can say I wanna -- -- someone and he.
And you wouldn't know that right now because you know if -- -- part of it comes PP if you wanna support them are starving to death you know compared to some country is lots of money.
Or you're not gonna buy content from certain countries because they be.
Burn down the -- forced -- you know and in for the these child labor you can actually because you now where the percent to content there is coming from -- whatever because you have centric content and -- come.
He's going by percentage content now know there's 10% of -- 3% Q actually know where the materials are coming from so if you watch these things.
You can actually -- kinds of products according to your own personal values socially conscious.
-- is definitely on Verizon's.
Absolutely conscientious consumerism and I think it's the only be the one question I would have -- in -- very difficult economy like ours where people are really choosing things on on their.
The sort of budget -- limited budget they're working -- You know -- -- do we have the ability to be as socially -- justice is that we would like there's this -- hopefully we yes because what happens is that.
That the vast majority of money and economy is not the -- -- which has few options you know its middle class upper middle class and upper class.
And they have all right the world that's where you can afford by better suitor expensive car and all kind of stuff so.
Components your decision you know members only few percent right so we need.
Actually adds up and something we can do.
-- -- -- Pop wanna say thank you Allan.
Appreciate the name of the book is buying America back.
-- UK is the author and thanks for dropping by the studios to tell us about your book appreciate it thank you having.