Rise of China

Our relationship with China is indeed very significant. Chinese imports are found on nearly every shelf of every store in the US. As you can imagine, the availability of these inexpensive imported goods from China feeds the insatiable appetite of our consumers. Accordingly, because consumer spending is responsible for about two-thirds of our economy, many tend to believe that this trade relationship is a one-way street with China as the victor. However, China remains much more dependent on the United States than many realize. Ever since entering the World Trade Organization in 2001, China has risen to become the global leader in export trade. But its economic dominance has not been the result of special skills held by Chinese laborers. The basic history is that trade liberalization and other economic changes initiated during the 1980's enabled China to organize and leverage its labor force. By the 1990's, radical shifts in global trade policy would soon embolden China as a vit... Read more

At this point I'm under the impression that China has to burn themselves down to burn us down. Anybody think they're interested in that?