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

Trump garners support from Senate and House of Representatives to pass the $1.5 trillion tax overhaul.

Daisy Harvey

2017-11-17 09:42:00 Friday ET

Trump garners support from Senate and House of Representatives to pass the $1.5 trillion tax overhaul.

The Trump administration garners congressional support from both Senate and the House of Representatives to pass the $1.5 trillion tax overhaul (Tax Cuts &a

+See More

The Trump $1.5 trillion hefty tax cuts and $1 trillion infrastructure expenditures may speed up the Federal Reserve interest rate hike.

Joseph Corr

2018-03-15 07:41:00 Thursday ET

The Trump $1.5 trillion hefty tax cuts and $1 trillion infrastructure expenditures may speed up the Federal Reserve interest rate hike.

The Trump administration's $1.5 trillion hefty tax cuts and $1 trillion infrastructure expenditures may speed up the Federal Reserve interest rate hike

+See More

Netflix suffers its first major loss of U.S. subscribers due to the recent price hikes.

Rose Prince

2019-08-14 10:31:00 Wednesday ET

Netflix suffers its first major loss of U.S. subscribers due to the recent price hikes.

Netflix suffers its first major loss of U.S. subscribers due to the recent price hikes. The company adds only 2.7 million new subscribers in 2019Q2 in stark

+See More

Thomas Piketty frames economic inequality as a global phenomenon.

Apple Boston

2017-01-11 11:38:00 Wednesday ET

Thomas Piketty frames economic inequality as a global phenomenon.

Thomas Piketty's recent new book *Capital in the Twenty-First Century* frames income and wealth inequality now as a global economic phenomenon. When

+See More

Fed Chair Jerome Powell increases the neutral interest rate to a range of 1.5% to 1.75% in his debut press conference.

Chanel Holden

2018-03-21 06:32:00 Wednesday ET

Fed Chair Jerome Powell increases the neutral interest rate to a range of 1.5% to 1.75% in his debut press conference.

Fed Chair Jerome Powell increases the neutral interest rate to a range of 1.5% to 1.75% in his debut post-FOMC press conference. The Federal Reserve raises

+See More

Michael Woodford provides the theoretical foundations of monetary policy rules in ever more efficient financial markets.

Fiona Sydney

2023-09-07 11:30:00 Thursday ET

Michael Woodford provides the theoretical foundations of monetary policy rules in ever more efficient financial markets.

Michael Woodford provides the theoretical foundations of monetary policy rules in ever more efficient financial markets. Michael Woodford (2003)  

+See More