The bank generates funds only by taking money from other businesses. That means an American corner drugstore is being denied loans in favor of a Chinese government enterprise, such as Beijing's State Development Bank. Washington knows what's happening. Moreover, boosting earnings for Boeing's shareholders isn't the government's job. Washington's duty is to promote the general welfare, such as the common defense, not enhance the profits of America's biggest companies.
Governments are much better at redistributing than creating wealth.
Clinton probably recognizes that such measures won't do much to aid the economy. But more cash for Ex-Im will help him buy key support in the business community. And that's the overriding goal of this most political of presidents. Doug Bandow is a senior fellow at the Cato Institute.