Some believe America’s power, like the dollar, is in decline. The WSJ opinion section, making some observations from the recent Asean meeting, went a little farther by stating that American inaction is leaving the door open for China to increase its sway in the region.
The weekend’s summit of Asian leaders in Thailand generated more heat than light on economics, but one thing is increasingly clear: Beijing and Tokyo understand the strategic importance of trade. Washington does not, and it risks paying the price in lost influence.
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Yet Washington is sending a very different signal on the trade issues that matter most to a region still dependent on exports to the U.S. President Obama has done nothing to ratify the U.S.-South Korea trade pact and has picked tariff spats with China. Congress’s protectionist drumbeat and apparent lack of U.S. concern over a falling dollar raise questions about U.S. policy.With China angling for regional leadership, the U.S. can’t afford to be seen as an unreliable economic partner. Mr. Obama needs to reassert U.S. leadership in Asia, starting with trade.
{ 17 comments… read them below or add one }
Domestic consumption in China is increasing but will never meet the level of US consumer spending in its heydays. Those days are gone…
But with it’s market size and the low level that it is starting from, China is the key strategic market for the rest of the region which is heavily dependent on exports. The Japanese and Korean MNCs recognize this and are pressurizing their governments to keep relations with China on an even keel. Will the Chinese take advantage of this? You can bet your last yuan on it. But this is natural and this is Realpolitik. The cards have been shuffled and all the players will play with what they have been dealt.
Waek WSJ analysis. But what would you expect of a free mkt shill?
In these, the last days of the First Great American Empire, we remember with great pride and affection the treasures you shared with us – the Ford Fairlane (at age 7?); the Hula-hoop; color TV!!!; the Frisbee; Coca-cola; the Yo-yo; the skate-board; hanging five & Da Cat; Tommie Thomas (sigh) in a seedy Kathmandu hotel; the only American insurance company in Tehran in the days of the Shah; the Goodyear Blimp over a magical SF skyline; the MacPlus and a never-ending succession of mactreats thereafter; Aldus Freehand versions 3, 5, 5.5, 7, 8, 9 mx11; Adobe Acrobat; Crestone CO; Boulder; un/be/liev/able Joe; m’first paper, to ACSA, New Orleans; Sunshine, whose planned white-light visit of 3-weeks lasted 5 years with good behavior; Jefferson Airplane; the Grateful Dead…
Can’t live with ya, can’t live without ya.
Regarding regional integration issue:
The concern expressed in the opinion piece is warranted, but not the tone. It’s nowhere near time to exhibit frustration. Status quo four years from now is a different matter.
Regarding protectionist issues:
The tire issue is going to be settled via WTO. What’s interesting is that China is going to be civil about the issue. I haven’t heard anything like the childish open vendetta they have against Google. I wonder if it helps that they can see that many Americans are opposed to the penalties. The banana issue was a much bigger deal than this.
The EU-Korea agreement seems to have acted as catalyst in moving the KORUS toward signing. KORUS is inevitable. If anything, it seems renegotiations will occur on the side, kind of like in the way Korea is going to renegotiate their deal with Chile, even though their fta is already in force.
#3 You left out the Internet, Helping to squash the Soviet Union, playing a huge role in getting rid of Hitler and forcing the Japanese Emperor to halt in his tracks. Small things but still note worthy im sure…
blues and jazz
@ #5,
I thought that was hip hop music…
Somebody go back in time and stop Nixon from opening up the doors to China so we dont have to worry about all this debt we now owe to them for selling us poisonous cheaply made substandard products. Not being serious btw.
#5: … and freedom…
Yes but here is an interesting blog I found on North Korean WMD proliferation in China:
http://kim1602.blogspot.com
Through the company Komid and people like Ko Myong and Ryu Jin who sell their missiles to other countries such as Iran and Syria.
While the Republicans have traditionally taken theirs from the Japanese, the new Democrates takes their spending money from the Chinese.
http://www.cnn.com/ALLPOLITICS/1998/05/23/clinton.china/
I am sure Obama is doing the same.
Therefore, the US takes from both sides. Some Korean “intellectual” jerks think the US like to contain China. They are reciting what they have learned in American university 30 years ago.
New US love China. So much so that it will not take sides between China and Japan. The US Forces will eventually leave Korea and Japan, so as to pave a way toward the China-Japan War II.
The Chinese are smart. Instead of fighting Japan themselves, they will use Koreas. First, they will let two Koreas to unite. Of course, the United Korea(new UK) will be under China’s control.
Then, Koreans will be steered to shoot a missle to Japan. A Korea-Japan war will start, resulting in many Korean deaths.
China and the US will play peacemakers, while condemning Koreans for starting the war. With the Japanese’ consent, the Chinese will be allowed to imprison Koreans to labor camps throught China.
Eventually, Koreans will disappear from the face of the earth.
I hate to present a scenario without a solution.
So here goes…
There is only one solution: escape Korea!
Just like the Irish of 19th and 20th century, abandon your homeland. And, migrate to the US, the land of the Free.
One quick way to achieve this is to gather $500,000 from extended family and try for “investment immigration”.
Beats becoming a boat people when the war starts!
Or you can become a superstar PHD with skills deemed absolutely necessary for the future of US development, and they’ll grant you a green card in about 5 months, is what I hear.
@ # 13,
Eh… I think Canada will give you permanent residency in just one month if you have the skills…
Canada was, at least during the mid / late 90s, quite content to let any manner of Chinese buy citizenship with about a half million US. Not many questions were asked about HOW the money was obtained.
Having Canadian citizenship will mean your children will be born Canadian–I rather have my children grow up not hating me.
Speaking of talented Chinese immigrants… the curious case of Qian Xuesen, father of NASA and CalTech’s Jet Propulsion Laboratory AND… China’s rocket (and ICBM) program.
http://www.latimes.com/news/nationworld/nation/la-me-qian-xuesen1-2009nov01,0,2865408.story
Iris Chang wrote a book about him here:
http://books.google.com/books?id=e2_uIf7L5BMC&dq=Thread+of+the+Silkworm&printsec=frontcover&source=bn&hl=en&ei=5CrvSuTmJ5SsMMrHvYQM&sa=X&oi=book_result&ct=result&resnum=4&ved=0CBoQ6AEwAw#v=onepage&q=&f=false
Bottom line? Qian helped found America’s space and missile program. He was the first to think up of the idea of a space shuttle. He helped bring Wernher von Braun to America. During the Red Scare, the FBI imprisoned him over false and trumped up charges and sent him to Red China in exchange for 11 captured U.S. airman. According to the former Secretary of the Navy that was, “the stupidest thing [the U.S.] ever did…. He was no more a communist than I was, and we forced him to go.”
He went back to China, very very bitter over his experience in the U.S. and was the father of China’s missile and rocket program.
Qian died yesterday at the age of 98.
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