We are in the midst of a surge in China's exports. This is just one more chapter in the unfolding shift in economic power away from the U.S. Free trade is not necessarily fair, perhaps it seldom is 'fair,' at least to those whose jobs are displaced.
I have yet to hear any politician seriously discuss a policy or action that would change the general trend toward more imports and increasing trade deficits. America must decide how it will play long term in this global economic game. The only responses seem to be about restrictions and restraint.
We'd better get our collective act together. I'd like to see a proposal for what the U.S. position will be/should be in 10 years. The frequent admonitions about balancing one's portfolio by investing internationally had best be heeded.
Our Achilles heel is energy and perhaps it is also China's. The world's growth economies will suck up all the available energy supplies.
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