Basically they are trying to go to heaven without offending the devil.
In order to get something really done, there will have to be an outright smackdown of certain corporate interests--who by the way are extremely powerful.
There are also many interests in the State Department and in the Intel Community that fear what would happen...hell it even extends somewhat to the military.
I would say most of the reasons aren't economic at all.
As for the USTR I think there are surprisingly a lot of people that feel the same way...but they get caught in the crossfire mentioned above.
Seriously, how do you turn the screws on China without cutting off contact and being seen as antagonizing China and possibly sparking some violence?
China vigorously exploits the situation.
I saw a show on CNBC this morning about China and the automotive market.
An interesting statment was the Chinese gov't is MANDATING their automotive manufacturers have 40% of the global car sales (cannot remember by what year).
So much for private enterprise in China. Clearly shows the communist leadship is still pulling the strings. I don't remember our government mandating to our manufacturers that they have so much market share by a certian time.