America’s Top 7 Economic Issues With China

In other words, they still fall far short of other Asian economies, let alone the western hemisphere.

4). The Great Wall of China—So-called rare earth metals, of which China has an abundance, are the latest exports to get whacked with high tariffs. They're desperately needed for the production of high tech devices, and China knows it. This comes after they placed tariffs on chemicals and fertilizers. What's next, a tariff on all the American flags they produce?

Not to worry, the president responded swiftly with a tariff on tires. Of course, they're not bicycle tires, so how much good will it really do?

5). We're Not Worthy—Andrew Kohut of the Pew Research Center, writing in the Wall Street Journal, noted that a plurality of Americans, 47%, are under the erroneous impression that China is the world's leading economy. As the Journal notes, "news reports regarding Chinese military strides, or the academic prowess of Shanghai high school students, contribute to Western perceptions of Chinese ascendancy. So does the false notion that Beijing's holdings of U.S. debt amounts to a sword of Damocles over Washington's head."

And as we referred to in our opening, tough-as-nails Chinese mothers are raising child prodigies while their Western counterparts indulge their kids with lessons in finger-painting.

"Such fretting does have its uses," according to the Journal. "Free societies that constantly adapt to swings in political opinion, innovations in the marketplace, evolving tastes and norms and the arrival of new neighbors are societies that almost never crack. Ours hasn't since Fort Sumter was bombarded 150 years ago this April."

6). Human Rights—The image of Lady Liberty tumbling under Tiananmen Square tanks still resonates with many Americans. The guilt and self-flagellation that comes from trading with such a flagrant abuser of human rights is something with which the country cannot seem to reconcile. Whether it's the "disappearing" of political prisoners or the government's treatment of the Falun Gong religious sect, its limitations on basic civil liberties has many American's rightly wondering if dealing with the Chinese is in essence accepting blood money. President Obama raised the issue this week. We hope (but doubt) it will have an effect.

7). Support for North Korea—Like a loyal friend with a chemical imbalance who nonetheless always has your back, having a crazy country in your corner comes with advantages. The Chinese are playing this one to the hilt. Despite assurances that they can deliver on six-party talks, China has yet to get Kim Jong-Il back to the negotiating table. They thankfully reined him in over the recent bombing of Yeonpyeong Island in South Korea, but have done little else with the pariah nation.