Quote:
Originally Posted by john70t
+1 Kurt, but America also needs to ask China to pretty-please forgive our trade deficit.
What is "hope" when interest on a loan consumes a large percentage of of effort?
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Good point, IMO. The US and China need to have a "come to Jesus" meeting and understand that both parties need to be good partners. Maybe I am naive, but I think they need us as much as we need them.
I don't think we need the trade deficit forgiven, China should just open the valve and let us compete in their country as they do in ours. The US remains the world's powerhouse economy in absolute terms even though China sits with a huge trade surplus and a huge national surplus.
I think China just wants to be recognized as a world "player" and the Olympics are an excellent example of their desire to be accepted. I honestly think they are more insecure about their position in the world than many may think. Let's help them succeed and in the process "we" can grow America too. China represents a great opportunity for America.
Sorry if I sound too optimistic and/or idealistic, or even like Obama, but I do believe we need to help China and prop up the US in the process. I also have a simplistic view that the more capitalism pervades China, the better the odds that China eventually has a more free, democratic system than it does now.
Best,