The American people need to be told the truth about our “partner” China. China holds over $1.4 trillion in U.S. debt. The Chinese are, by far, the largest foreign debt holder. As of the end of August this year, the U.S. trade imbalance with China is already at $237 billion, on the way to an annual trade imbalance north of $350 billion. China’s economy is controlled by the government. Any notion that their economy is based on a free-market system is simply not true. If an American company wants access to the Chinese consumers, that company must share its intellectual property, a condition that violates international fair-trade standards, World Trade Organization rules and common sense.
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