There is not a single day that you hear news from China, before the Soviet Union Collapsed, America was obsessed with that country but only for military reasons, there was no question about who is strong economically and it was just a matter of time that the weight of the military expense will do that nation in. But long after the Soviet Union Collapse, another two obsessions have been haunting the U.S. lately namely, the Islamic terrorists (I will name them what they are for) and on the economic side the spectacular rise of China. Due to our two wars in the Asia and hobbled by the great recession and the war on Terror, we have not been paying much attention to the Chinese rise early on. But now that genie is out of the bottle and you can’t put it back again.
We have become the most heavily indebted country in the world from the biggest creditor in the world and we still can’t get our acts together due to our constantly bickering political parties. But still when the politicians have time on their hands, they turn their attention to China and not in a positive way. They are constantly talking about currency manipulation and military expenditures and about how the Chinese are not playing fair in international trade, and then they constantly come up with different threats of tariff levies, cutting off technologies exports, labeling them currency manipulator and what not.