Greg Ip, writing in The Wall Street Journal, has an extensive article delineating how the People’s Republic of China is growing economically at the direct expense of the rest of the world.
Far from missing the opportunities of an international free market process whereby everyone gains, the PRC is doing this deliberately. Its overtly stated goal is to economically dominate (not effectively compete with) us. Its unstated but longer term goal is to economically dominate the rest of the world.
And with economic domination comes political domination.
Ip’s subheadline, though, isn’t entirely accurate:
No one knows how to cope with Beijing’s “beggar thy neighbor” economic model
Some of us do know how. The PRC is an enemy nation. This is amply demonstrated by the PRC’s control and use as national security-threatening weapons of such Critical Items as rare earths, both ore and processed, and of the basic components of medicines. The PRC’s enmity toward us is corroborated by their “graduate students'” efforts to smuggle into our nation, via university labs, fungi that if loosed would severely damage if not wipe out, much of our food plant agriculture.
We should be doing no economic business with the at all; the cease and desist will eliminate the PRC’s economic weapons. It will be extremely expensive and disruptive for us to pull our supply chains entirely out of the PRC and to stop selling anything at all to the PRC or its companies and buying anything from them, but it will only grow more expensive as we delay moving. But those expenses will pale compared to the cost of having our economy and our politics controlled by the PRC.