Irwin M. Stelzer May 12, 2018
For over a decade there has been a trade war between China and America, with America playing the role of passive victim. China has required American firms investing in its country to take on a Chinese partner and turn over their technology, which it agreed not to do when it joined the World Trade Organization.
It has stolen American intellectual property, imposed heavy duties on imported vehicles, subsidized its exports, and manipulated its currency.
Successive American administrations, prisoner to the idea that a richer China would become a more open China—and willing to play by the rules of international trade and resolve international disputes peacefully—have allowed China’s annual trade surplus in goods with the United States to balloon to $375 billion last year. Which is 10 percent higher in the first quarter of this year compared with last year and more than two-thirds of the total U.S. goods deficit with the entire world........To Read More....