I honestly do hope Obama or someone takes issue with China, but I
worry
that he may not be tough enough to do it.
He is intelligent enough to understand the issues and talk about them
persuasively. No president makes trade treaties on his own. Congress
does that. It will be next year before we find out if the next
president and the Congress intelligently address the many
international trade issues, most especially China.
I am reminded of reading about the Tri-Lateral Commission in the
seventies. Their reported premise then, and it is becoming more
obvious to me now, is that the world will ever evolve to an
equilibrium where wages in all countries are fairly equal. The
discomfort here is already apparent. I don't know that there is an
answer beyond vastly superior upper education and technological
advances. Business as usual was yesterday.