If we hadn't traded with the Red Chinese, the communist regime there would have collapsed like in the USSR. Instead, we foolishly underwrote it.
This coming from a country still controlled by the Communist Party. The Chinese will prosper to the degree they throw off the yoke of Communism, as many of the people there have tried to do. However, the Party is still in control and is constantly trying to tighten the reins to maintain its grip on power.
I agree fully with both of your most recent posts particularly when we gave China permanent status in the World Trade Organization. It is incredible to look at a chart of the exponential growth of their exports over the past 10 years since their admission. And coordinately a decline of our exports and those of the West as we feverishly transfer wealth.Most free trade, not all, is good trade.Few of the political elite will admit it but China is mother of all toxic trade relationships. It is only a question of whether their bubble bursts first before we should go the punitive tariff route.