Chinese Follow Same Old Script (And They Get the Punch Line)

The US repeatedly promises tough talk on a long list of concerns with China while announcing new joint ventures between US and Chinese firms – partnerships that often deliver more jobs to China than the US. A US visit by China’s President Hu Jintao focuses attention on the US trade deficit and accusations that China engages in currency manipulation, theft of intellectual property and industry subsidies, notes Steven Pearlstein in an essay for the Washington Post. He suggests that the US copy China’s ways: “Subsidies and directed credit for local companies, buy-American provisions for government agencies and government contractors, currency manipulation, the rules on ‘conditional market access’ and ‘indigenous innovation’ – surely China could hardly complain if we were to pay them the highest compliment by embracing their economic model.” Industry after industry hands US technology over to China to access low wages and gain a foothold into the world’s largest market, and Pearlstein urges the US to say, “Enough!” – YaleGlobal