According to the always up-to-date blog, China Confidential, Secretary Paulson's recent trip to China produced little if nothing of value to the United States. Be sure to check out China Confidential on a regular basis. This blog has a number of sources close to the subject, providing invaluable analysis and inside information.
This is an excerpt from a much longer analysis.
Simply put, the so-called summit was a disaster--for America. Against a depressing backdrop of unfair Chinese trade practices--including illegal currency manipulation--which have helped to hollow out the US economy to the detriment of millions of workers, Beijing's Communist Party rulers have offered to engage the US in "strategic dialogue." Incredible! The "responsible stakeholder"--whose missiles, machine guns--and nuclear know-how and technologies--have a way of showing up in the hands of some of the planet's worst people, the "peacefully rising" regional power that protects the likes of Islamist Iran and Stalinist North Korea, the "status quo power" that threatens to erase self-ruled, democratic Taiwan and seeks to replace the US "hegemon" as the world's dominant economic and military power, has actually agreed to ... talk.
board room, or with the powers that be in Communist China, but not in the democratic marketplace of ideas.Amazing--not! Paulson's speech after arriving in China was an insult to the intelligence of every American worker; and his "heaven help" America warning, should it, heaven forbid, demand action instead of talk, was downright offensive, a remark that may play well in a despotic
What is truly amazing is this: never before in its history has the US been so influenced by a foreign dictatorship as it is today in the case of China. China's reach and influence in American economic, political, and academic life is without precedent. From Wall Street to Washington, from Corporate America to the classrooms of the country's leading universities, one can easily ruin his or her career by speaking out against Chinese tyranny and treachery.
For Americans who see China as a menacing adversary, the phenomenon is increasingly worrisome. Imagine if the Soviet Union had been America's biggest creditor. Consider what it might have been like if US consumers had been funding Soviet imperialism by buying cheap Soviet-made goods, kept artificially low in price by a manipulated currency regime. Think about a behemoth like Wal-Mart, which is essentially China's US retail partner, or arm, stuffed with Soviet toys,TVs, clothing. (By the way, one wonders if the launching of Wal-Mart's generic drug price war was timed to coincide with the Paulson visit.)