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China is the United States second biggest trading partner, with trade for the year 2010 amounting to $459 billion. However, China's exports to US exceed their import by a massive $273 billion, effectively making this relationship exceptionally unhealthy.
China's arrival as major economic player has been privately attributed to its policy of distorting its financial policies, their refusal to float their currency in the open market, their selective adherence to World Trade Organization policies, their policy of subsidizing national enterprises to fight off foreign competition and their sometimes-open disregard to Intellectual Property Rights.
Set against the unhealthy US economy, unemployment and public debts, many are of the opinion that China must be pressured to conform to international trade policies. However, China is the biggest foreign lender in US, as well as the biggest subscriber of US Government bonds. Couple that with the dependence of the local American economy on cheap Chinese imports, there is a fear that playing hard ball with China might bounce back on us tenfold, severely crippling the national economy in the process. However, on the other side, keeping mum on the matter might prolong the sickness of our economy and may even be a contributing factor in its permanent death, as hard as it is to believe.
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Declared 2012 Democratic Presidential Candidate
Current President of the United States
Barack Obama
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Obama Position on China
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• Obama is left with no choice but to reassure Beijing on many core issues because the fact
remains that China is the single largest lender to the US and the only country capable of
challenging the United States status as a world superpower.
• Obama has struck a mollifying note with China. He said the US does not seek to contain China, in
fact it's growth of a strong and prosperous china will only be a source of strength for the
community of nations.
• He said the US will not agree on all issues with china and will continue to uphold the
fundamental values which include respect for religion and cultures of all people.
• Obama took care not to meet the Dalai Lama who China condemns as a Chinese separatist anytime
close to his visit to Shanghai.
• Obama has accused China of manipulating its currency but later on this accusation was withdrawn
saying that China was not indulging in any such manipulations to increase it's exports.
• Obama has already acknowledged China's growth by making the G-20 instead of the G-8 the main
forum for global economic issues.
• He spoke in criticism against Internet censorship to students in Shanghai and supported freedom
of expression and political participation.
• On his 2009 visit to China Obama looked for concessions on climate, currency, trade and human
rights but all he got was a bland statement promising no firm commitments without any mention of
internet censorship or Tibet.
More on Barack Obama
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