For the past decade, U.S. government officials have been pleading with China to shift its economy from investment in manufacturing capacity and exports to domestic consumption. It has asked that China stop manipulating the value of its currency. It has asked that it open its markets to U.S. service providers in health care and finance.
[by Richard A. McCormack | November 26, 2014 | M&T News]
Despite repeated promises from Chinese diplomats, it’s not happening and doesn’t look like it ever will, according to the U.S.- China Economic and Security Review Commission (USCC).
In fact, China remains a rogue nation, undeterred in its pursuit of creating hundreds of millions of jobs in whatever manner it deems appropriate, and at whatever cost to the U.S. economy.
According to the commission, China is shutting out foreign companies. It continues to invest in state-owned enterprises. Its cyber espionage programs continue to target U.S. businesses and national security agencies. It is cracking down on political activists, despite assurances made by former U.S. presidents, senators and diplomats that the Internet and liberalized trade with the United States would lead to a new wave of enduring freedoms for Chinese citizens.
“The central government in Beijing has continued to stifle dissent through use of internal security forces, legal and extralegal measures and media censorship,” according to the U.S.-China Commission.
Click here to read the entire article.