U.S. economic security and the challenge from China
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The Chinese economic system is based on the concept of autocracy and state-directed capitalism. The Chinese challenge is playing out in four theaters: trade, North Korea, the South China Sea, and One Belt One Road. To do all those things requires dollars: trade provides the dollars. I don’t believe that it is possible to resolve the trade problems with China within the WTO system and provide an equitable playing field. But if we isolate ourselves, we’ll give China the world to develop its expertise and resources. The U.S. acting alone may not have much effect on China; the rest of the world needs to be aware of the challenges posed by China.