China is a growing economic power, 2nd only to the US in size. Both the countries stand to reap substantial economic rewards by reducing the costs of business, eliminating tariffs and working cooperatively.
China must do more to protect IP rights, and the government needs to divorce itself of ownership interests in industry .The most pressing dangers to US economic competitiveness come from inside their own borders. The most promising item for US exporters is the rise of a Chinese middle class, hungry for U.S products. Billions of people wanting to spend their hard earned wealth on U.S products.
America is at a great disadvantage economically from China’s unfair trade policies and U.S should move to cancel your membership to the WTO because of non-tariff import restrictions and unbalanced currency manipulations, and exploitation of copyright laws. China only looks after its own interests and is the ultimate free rider on the world stage.
China wins by exporting cheap Chinese products which helps employment in China and China wins because those exports in turn allow China to amass huge forex reserves which China invests in US treasuries.
US looses domestic jobs because of imports of cheap Chinese products and US looses because US digs an ever deeper debt hole in favor of China with Chinese investments made from Chinese exports.
There is no clear picture how long this one-way trade with China having huge trade surpluses with US can continue and how much deeper debt hole can US dig for itself before it realizes that free-trade mantra is its own graveyard?
On the whole, I feel US - China trade is a win-win game for China.
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