Over the last 100+ years, the Left has given the federal government license to rape America economically and they have done just that. The propaganda arm of the feds, the Lying Leftist Media, keeps people away from realizing the REAL cause of our economic problems - the feds.
China is politically a threat to be taken seriously and dealt with seriously. But economically, China is an easy straw-man. Part of the reason is the confusion between the free market and national political sovereignty and the Lying Leftist Media helps keep that confusion going.
I have to guess, and correct me if I am wrong, both parties have been complicit in this. Seriously, other than a handful, when have you ever heard a Congressman speak ill of China? But they have plenty of vitriol for Russia.