Scapegoating China

China features highly in the US elections, with neither Republican nor Democrats wanting to be seen to be soft on “Red China”. The evils of China range from spy networks, cyber crimes and stealing American jobs to trade deficits, undervalued Yuan and China’s holding of US debt. The issue has led Chinas official news agency, Xinhua, to warn that Sino-US relations could be damaged.

Bloomberg has reported that China is set to loose its position as the US’s biggest foreign creditor. Will this stop the China-bashing back in the US? Unlikley. It probably won’t even stop the table thumping in outrage of lending from the communists. It’s election year in the US, and yes, we can expect politicians to be pampering to various constituents, including those holding anti-China sentiments. But surely there is some need to preserve good relations with China too. As the world’s two largest economies we all have an interest in this happening.

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