China’s growth in power has posed both challenges and opportunities in U.S.-China relations, and for the effect on the global economy. Economically, militarily and politically, China and the U.S. are playing on tumultuous turf.
This paper presents five elements to a successful approach to trade with China:
- make preparing America for the rise of China and shaping the surrounding environment in our favor a top, sustained priority
- vigorously implement programs that equip Americans to compete in the global economy and provide social insurance in support of mobility and opportunity
- vigorously pursue critical trade enforcement actions that have the greatest consequences for American competitiveness-with intellectual property theft and China’s comprehensive subsidization of its exports as central targets
- push for more rapid adjustment of China’s currency as a critical component of a broader policy to induce appreciation in Asian currencies and to facilitate an orderly decline in global trade imbalances
- undertake sustained economic diplomacy at the highest levels to shape multilateral and regional economic structures and agreements favorably
Opportunity 08 aims to help 2008 presidential candidates and the public focus on critical issues facing the nation, presenting policy ideas on a wide array of domestic and foreign policy questions. The project is committed to providing both independent policy solutions and background material on issues of concern to voters.
The countries in the [Asia-Pacific] region want America to lead, but if the U.S. is so politically tied up in knots to not follow through on its promises then countries will have to turn elsewhere. And the U.S. role in the world will never be the same.
“I don’t know how we got to the point that T.P.P. became a pariah; it is the most far-reaching, progressive, important and advantageous trade pact in two decades.”
What determines Obama's next steps may also hinge on who's likely to succeed him in November. Either way, one of his biggest priorities when he returns from this trip is clear: To do everything he can to ensure Hillary Clinton is elected president.