America’s 'China Trade Deficit' Has Become a Security Problem
Of course, many on the Far Right (and the Wall Street Journal) continue to assure us that “free” trade with China, like greed, is good—so don’t worry about China’s currency manipulation or other unfair trade practices. Just keep spending like drunken sailors on Wal-Mart leave.
Singing an eerily similar song, many on the Far Left (and America’s offshoring multinationals) say cheap Chinese goods help America’s poor—and then tell the Biggest Lie of all: Economic engagement will eventually transform the Chinese Communist Party into a cuddly democratic reformer.
Meanwhile, Middle America winds up with zero annual wage growth for over a decade and millions of offshoring victims on the unemployment lines while the U.S. government wonders why it doesn’t have adequate tax revenues to pay its bills—much less build a 300-ship navy or 500 F-22s.
Wake up America. Better yet, somebody please wake up this year’s dwindling crop of presidential candidates and myopic TV debate moderators to the most pressing national security issue facing this country.
Peter Navarro is a professor at the University of California-Irvine. He is the author of Crouching Tiger: What China’s Militarism Means for the World (Prometheus Books) and director of the companion Crouching Tiger documentary film series. For more information and to access film interview clips, visit www.crouchingtiger.net or see his book talk on CSPAN2.
Image: Flickr/John Murphy.