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The Chinese are very smart, very patient, and determined to become the most dominant nation on earth. All other objectives are subordinate to the "China Rising" vision. There is no concept of fair play or adhering by international standards - those behaviors are evaluated by how useful they are tactically in working toward China's rightful dominant destiny.
The big difference between China today and Japan in the 80s and 90s is the Chinese have brilliantly split US interests. Corporations stand to make a lot of money by accessing Chinese factories and access to the Chinese domestic market. The Japanese had a closed system with few opportunities for external organizations to benefit.
The Chinese squeal like wounded pigs when their interests are damaged, but they respect and respond to power. We should tell them to let their currency float or we'll be forced to implement (modest) tariffs, in order to narrow our trade imbalance, revive our battered manufacturing sector, and narrow the budget deficit, which THEY scolded us about.
We lose about 1 million manufacturing jobs to China yearly, from currency manipulation, unequal access to Chinese markets and widespread industrial espionage and disregard for intellectual property.
If the dollar depreciated 20% more it would create 4-5 million manufacturing jobs. I'd gladly pay more for gas if more Americans were put to work and our budget issues were improved.
Do we need to become more competitive? Always, but in terms of a global labor market, we have a loooong way to fall to reach the equilibrium. PhDs in India make $15k a year, about what we pay fast food workers.
Unfortunately, because of our split interest, our political establishment is incapable of responding to the challenge.
The big difference between China today and Japan in the 80s and 90s is the Chinese have brilliantly split US interests. Corporations stand to make a lot of money by accessing Chinese factories and access to the Chinese domestic market. The Japanese had a closed system with few opportunities for external organizations to benefit.
The Chinese squeal like wounded pigs when their interests are damaged, but they respect and respond to power. We should tell them to let their currency float or we'll be forced to implement (modest) tariffs, in order to narrow our trade imbalance, revive our battered manufacturing sector, and narrow the budget deficit, which THEY scolded us about.
We lose about 1 million manufacturing jobs to China yearly, from currency manipulation, unequal access to Chinese markets and widespread industrial espionage and disregard for intellectual property.
If the dollar depreciated 20% more it would create 4-5 million manufacturing jobs. I'd gladly pay more for gas if more Americans were put to work and our budget issues were improved.
Do we need to become more competitive? Always, but in terms of a global labor market, we have a loooong way to fall to reach the equilibrium. PhDs in India make $15k a year, about what we pay fast food workers.
Unfortunately, because of our split interest, our political establishment is incapable of responding to the challenge.
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