The DOW has and continues to hit record, historical highs. Unemployment is way down. All in America, and wrought by the Bush Admin. And some think he hasn't a clue about China's economy???
The President is also receiving no credit for a major foreign policy success that will benefit our country for years to come: The development of much closer relations with India.
Like it or not, India and China have over one billion people EACH. We are third, with 300 million. To have friendly and productive relations with these two countries is sound policy.
Remember that Japan, Germany and South Korea at one point had VERY low wages and supplied us with cheap products. As those economies developed, their workers' wages rose -- in the case of South Korea, almost overnight as a result of political protests from workers who were not receiving their fair share.
Also remember that unions did NOT make the first steps to providing a great livelihood for workers here -- it was Henry Ford who paid workers well and created a prosperous working class.
China will eventually have to pay its workers better. Same with India.