Footwedge wrote:Wrong and wrong.
Despite the uneven playing field and unfair advantage the Chinese enjoy (and I agree with you wholeheartedly on this point BTW), it's equally WRONG to be in denial that often times we are now and have been our own worst enemy.
The Chi-coms know that their economic "success" is dependent upon American consumerism. This is precisely why they've been so willing up to now to prop up the Feds by buying U.S. treasuries. It's an indirect subsidy. Instead of the uneven playing field tilting to cheap Chinese labor, they subsidize the American government to keep Americans running to Wal-Mart to buy cheap Chinese goods.
But the Chi-coms are beginning to understand that this cannot go on forever.
Despite their "human rights abuses" I have a hunch that things aren't always going to be so rosy on the domestic front for the Chinese. Their people are temporarily somewhat pacified by a growing economy, but that growing economy coupled with a growing awareness (due to globalization) on the part of the Chinese people of those human rights abuses will eventually come home to roost.
This will become particularly acute when the Chi-coms stop subsidizing the U.S. government thus further crippling a sour American economy.
What goes around comes around.
In the meantime, we've made our own bed and now we lie in it...to use a couple worn out but very true clichés.