Admitting China to the WTO seems ineffective in imparting economic freedom and democracy to the communist regime.

Dan Rochefort

2018-07-27 10:35:00 Fri ET

Admitting China to the World Trade Organization (WTO) and other international activities seems ineffective in imparting economic freedom and democracy to the communist regime. China now marches toward global technological leadership and often challenges America both economically and militarily in what U.S. policy writer Michael Lind terms *Cold War II*. At one level, China seeks to be master its own technologies such as artificial-intelligence applications, robots, electric cars, biotech innovations, and semiconductor microchips. China thus aspires to achieve not only economic growth but also technological dominance.

With good intentions, the prior Carter and Clinton administrations might have been conducive to normalizing trade relations with China. These administrations might hold high hopes that China may embrace both economic freedom and democracy after WTO accession. These high hopes would then continue throughout the Bush and Obama administrations.

Nevertheless, China fails to fully comply with its WTO membership requirements with respect to trademark-and-patent protection and enforcement. In fact, China skillfully uses its WTO membership as blanket immunity from prosecution for its R&D-mercantilist policies. For instance, China sets unfair rules and regulations for U.S. multinational corporations to establish onshore data centers and IT innovation parks. These policies in turn transfer technologies from these corporations to their Chinese counterparts.

In the new millennium, America can no longer undertake unilateral actions against China without triggering WTO complaints. For better national economic security, it is legitimate for the Trump administration to impose on China hefty punitive tariffs and even quotas and embargoes in addition to foreign investment restrictions. This counterrevolutionary strategy better balances U.S. economic interests and so rolls back China's R&D-mercantilist agenda *Made in China 2025*.

 


If any of our AYA Analytica financial health memos (FHM), blog posts, ebooks, newsletters, and notifications etc, or any other form of online content curation, involves potential copyright concerns, please feel free to contact us at service@ayafintech.network so that we can remove relevant content in response to any such request within a reasonable time frame.

Blog+More

Foreign majority owners offer Sprint and T-Mobile to stop using HuaWei critical technologies after the U.S. telecom merger.

Daphne Basel

2018-12-20 13:40:00 Thursday ET

Foreign majority owners offer Sprint and T-Mobile to stop using HuaWei critical technologies after the U.S. telecom merger.

T-Mobile and Sprint indicate that the U.S. is likely to approve their merger plan as they take the offer from foreign owners to stop using HuaWei telecom te

+See More

Blackrock asset research director Andrew Ang shares his economic insights into fundamental factors for global asset management.

Apple Boston

2019-07-29 11:33:00 Monday ET

Blackrock asset research director Andrew Ang shares his economic insights into fundamental factors for global asset management.

Blackrock asset research director Andrew Ang shares his economic insights into fundamental factors for global asset management. As Ang indicates in an inter

+See More

Elon Musk envisions a bold fantastic future with his professional trifecta of lean enterprises SolarCity, SpaceX, and Tesla.

Joseph Corr

2020-04-10 11:33:00 Friday ET

Elon Musk envisions a bold fantastic future with his professional trifecta of lean enterprises SolarCity, SpaceX, and Tesla.

Elon Musk envisions a bold fantastic future with his professional trifecta of lean startup enterprises SolarCity, SpaceX, and Tesla. Ashlee Vance (2015)

+See More

Modern themes and insights in behavioral finance (Part 2)

Chanel Holden

2022-02-15 14:41:00 Tuesday ET

Modern themes and insights in behavioral finance (Part 2)

Modern themes and insights in behavioral finance   Lee, C.M., Shleifer, A., and Thaler, R.H. (1990). Anomalies: closed-end mutual funds. Journal

+See More

Volcker, Greenspan, Bernanke, and Yellen contribute to a Wall Street Journal op-ed on monetary policy independence.

Olivia London

2019-09-23 12:25:00 Monday ET

Volcker, Greenspan, Bernanke, and Yellen contribute to a Wall Street Journal op-ed on monetary policy independence.

Volcker, Greenspan, Bernanke, and Yellen contribute to a Wall Street Journal op-ed on monetary policy independence. These former Federal Reserve chiefs unit

+See More

The Economist interviews President Trump and spots the keyword *reciprocity* from trade to taxation.

Amy Hamilton

2017-07-01 08:40:00 Saturday ET

The Economist interviews President Trump and spots the keyword *reciprocity* from trade to taxation.

The Economist interviews President Donald Trump and spots the keyword *reciprocity* in many aspects of Trumponomics from trade and taxation to infrastructur

+See More