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June 16, 2005
Fearing China
There was a great op-ed in Monday's San Francisco Examiner. Head on over and give it a read:
China. Why has that word for so long struck fear in the hearts of many Americans? During the Cold War people harbored terrible fantasies about hordes of Chinese swarming over them and imposing a virulent Oriental communism. Now the Cold War is over, and although China still has a communist-inspired authoritarian government, this is not your father's Red nemesis. Much has changed in the world's most populous country.
Yet many Americans remain in fear. But now it is an economic fear: China will buy up all the beef. China will buy up all the wheat. China will make all the textiles and clothing and take our jobs. China's trade surplus with the United States will put us hopelessly in debt.
Nonsense. It's about time we kept our heads and applied some basic economics to what's going on.
Hat Tip: Thanks to Cafe Hayek for the link.
Posted by Peter Mork at June 16, 2005 2:28 PM
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