The USA could also have stopped China manipulating their currency exchange rates. This is artificially making their exports cheaper and boosting their economy. Simultaneously this is exporting their economic imbalances to the global economy and destablising other countries, typically manifesting as manufacturing declining and ‘service’ based sectors becoming more prominent than they should be.
Yes, there were a whole series of things that could have been done. But looking back, it seems obvious now that helping China to get rich was a poor decision. A wealthy and more industrialized country is simply a far more serious geopolitical threat than a poorer one. I’m glad that the Chinese population have been able to pull themselves up out of poverty. But in terms of our own national security and the security of democratic countries everywhere, enriching such a brutal dictatorship was a terrible mistake. Without its economic explosion, China wouldn’t today be on the brink of potentially invading Taiwan, and they wouldn’t be serving as the main economic backer for Russia’s war in Ukraine. In our world, wealth is power, and power is wealth. And by trading with the CCP, we magnified their power many fold.
The USA could also have stopped China manipulating their currency exchange rates. This is artificially making their exports cheaper and boosting their economy. Simultaneously this is exporting their economic imbalances to the global economy and destablising other countries, typically manifesting as manufacturing declining and ‘service’ based sectors becoming more prominent than they should be.
Yes, there were a whole series of things that could have been done. But looking back, it seems obvious now that helping China to get rich was a poor decision. A wealthy and more industrialized country is simply a far more serious geopolitical threat than a poorer one. I’m glad that the Chinese population have been able to pull themselves up out of poverty. But in terms of our own national security and the security of democratic countries everywhere, enriching such a brutal dictatorship was a terrible mistake. Without its economic explosion, China wouldn’t today be on the brink of potentially invading Taiwan, and they wouldn’t be serving as the main economic backer for Russia’s war in Ukraine. In our world, wealth is power, and power is wealth. And by trading with the CCP, we magnified their power many fold.
God, you Americans are so selfish