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China Poised to Take over Global Textile Trade as Quotas End Federal Judge blocks US Government from assisting American Textile Industry, as China Announces An Export Tariff. Trade Defict + Current Account Deficit Continue to Grow Trade Defict for Jan-Nov period surges past $560 billion, while current account deficit for third quarter of 2004 reaches all-time high. CAFTA to Face Major Opposition in Congress Next Year The Central American Free Trade Agreement, which would extend NAFTA to six very poor Latin American countries, was signed by George Bush last May. Backers of the treaty expect major opposition when the treaty is presented to Congress for ratification in early 2005. Congress May Try To Ratify CAFTA During Lame Duck Session Having signed the Central American Free Trade Agreement back in May of 2004, newly re-elected President Bush is considering bringing CAFTA before the US Congress during the lame duck session that will begin November 16th. Looming Elimination of Textile Quotas Begins to Gain National Press Coverage After a Presidential Campaign season that consistently ignored trade issues, major media outlets are beginning to write about Kannapolis, North Carolina and the threat of the January 1, 2005 phaseout of WTO Textile Quotas. Governor Schwarzenegger Vetoes 3 Anti-Outsourcing Bills Arnold kills bills that would have kept taxpayer dollars in the state, and protected sensitive patient health care data from being shipped offshore. Trade Deficit with China Reaches New Highs US purchased $18.4 billion in goods from China in September 2004, while China bought just $2.9 billion in goods from US. Indian Government Seeks Unlimited Guest Worker Access to US According to the Times of India, the Indian Government is preparing to offer the US access to the Banking and Financial Services market in India, in exchange for the US lifting all limits on Indian guest workers coming to America. Republican Party Platform Endorses "Fair Trade" Making no mention of the record trade deficit recorded in June of 2004, the Republican Party adopted a platform with a carefully-worded statement on trade. New Census Report Says Poverty, Uninsured Rose Rapidly in 2003 The Census Bureau reported disturbing news in the annual data released on Thursday. In 2003, 1.4 million Americans lost their health insurance, and the number of people in poverty grew by 1.3 million. Anti-Outsourcing Bill Lands on Schwarzenegger's Desk A bill that would become the nation's toughest anti-outsourcing law has been passed by the Calfornia State Legislature and forwarded to Governor Arnold Schwarzenegger. Click HERE to read an open letter from Greg Spotts to the Governor in support of this important piece of legislation. The World's Garment and Textile Workers Face "The Cliff" on January 1 Garment and textile workers in the US and many other countries face severe job losses next year when the WTO lifts quotas that have been restraining the growth of China's low wage clothing industry. Lou Dobbs and Bill Moyers Discuss Global Sourcing on PBS "Corporate America will not tell us how many jobs they're shipping overseas to cheap foreign labor markets," Dobbs tells Bill Moyers. "What kind of country do we want? Do we want to destroy the middle class?"