US Government Tries to Fight Business In China
Lately it seems that American Politicians are fighting everything. From waging wars in Iraq and possibly Iran, to trying to bring down the online casino business, the US government just doesn`t give it a rest. So what else is the super power trying to fight now? The answer is of course Capitalism. Frankly, this does not only seem wrong, it is totally rediculous when one considers that the US has been trying to fight monopolies for decades. Why fight a system that is anti-monopoly and pro-business competition? Chinese President Hu Jintao visits Washington this week amid calls from Congress to impose trade restrictions on China`s capitalist economy.
Jim Trippon, editor-in-chief of the China Stock Digest says "America`s Founding Fathers must be spinning in their graves" over Washington`s recent move to penalize Chinese capitalist economic success. From 1948 and 1987, America spent over $6.5 trillion to fight the Cold War, according to the Cato Institute. "The U.S. won that war in 1987 when China adopted capitalism" says China expert Jim Trippon. Instead of Demonizing China, says Trippon, "American Politicians should be dancing in a Conga Line because of China`s embrace of capitalism". Trippon says "The only thing worse than a sore loser... is a sore winner".
The history of China`s move to capitalism began with Deng Xiaoping`s famous quote "It doesn`t matter if its a black cat or a white cat, as long as it catches mice", which Deng used to usher in the economic reform which transformed China`s economy from State control to Capitalism. Trippon, whose brother John just returned from combat duty as an infantry officer in Iraq, finds irony in the fact that "politicians decry the loss of American lives to bring democracy to Iraq but refuse to celebrate the establishment of American style capitalism in China, which occurred without a single shot being fired". Of course much of the debate is over the U.S. trade deficit which reached an all time high of $726 billion, $202 billion of which is with China. However, since 1997, U.S. exports to China have soared by 145%.
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