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April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review Dec. 14, 2005 / 13 Kislev, 5766

Most of U.S.' anxieties toward China are misplaced or exaggerated

By Robert Robb

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http://www.JewishWorldReview.com | The United States is full of anxieties about the rise of China.


Some fear that China will somehow use the large amount of U.S. government debt it holds for malefic purposes.


Fears about China as a rapidly growing economic force are rampant in this country.


Secretary of Defense Donald Rumsfeld has publicly fretted about China's large military buildup given that, at least according to Rumsfeld, it faces no security threats.


During the 2000 campaign, then candidate Bush derided the strategic engagement policy of the Clinton administration. Instead, Bush asserted, his administration would treat China as what it is, a "strategic competitor."


That sort of language has been dropped by the administration, but it doesn't really seem to have an alternative strategy to guide U.S. interaction with China. During his recent visit to Asia, Bush made his customary freedom and democracy lecture about China, but from the safe shores of Japan. While actually in China, Bush had uncharacteristically little to say.


Most of these anxieties are misplaced or exaggerated.


China has a grossly underdeveloped financial system. It needs a safe place to park reserves and there isn't anything much more secure than U.S. government debt. This would be a strategic concern only if no one else was willing to loan the federal government the money. Persistent low interest rates indicate that isn't the case.


China certainly has a fast growing economy, having averaged about 9 percent annual growth in its Gross Domestic Product for the last two and a half decades. But it is still far from overtaking or even reaching parity with the U.S. economy.


Currently, China's GDP is less than one-seventh that of the United States. Its GDP per capita is barely over $1,000, compared to over $37,000 in the U.S.


Even if China continues its current pace of growth it would only have an economy about a quarter the size of the U.S.'s by 2025. China's ambition is to have per capita GDP in just the $3,000 range by mid-century.


To get even there, China has some fairly significant obstacles to overcome.


Right now, China's economic growth is largely export driven. To truly develop the domestic economy will require extensive liberalization and the establishment of a nonpolitical rule of law. Right now, China ranks very low on the Index of Economic Freedom published by the Heritage Foundation and the Wall Street Journal.


Because of its population control measures, China also has a developing demographic problem of an aging population that makes the U.S.'s look like a cakewalk.


More importantly, however, China should not be viewed as an economic competitor. Companies compete against each other. In a free global economy, countries provide markets for each other.


Much is made of the growing trade deficit with China. U.S. exports to China, however, have increased by 284 percent over the last decade.


Moreover, Chinese imports have made a meaningful contribution to keeping inflation under control in this country.


China is rapidly building up its military, increasing expenditures at an estimated 11 percent a year over the last decade. But even the Pentagon's highest estimate only has China's military spending at about a fifth that of the United States.


Contrary to Rumsfeld's fret, the United States fully understands the need to have a military capable not only of dealing with existing threats but strong enough to deter potential ones as well. By the Pentagon's own assessment, China does not yet have the military capability to protect its own extensive coastline, much less the shipping lanes on which its economy depends.


China has territorial disputes with its neighbors, but the only one that concerns the U.S. is Taiwan. Yet, over the long haul, the fact that Taiwan is the largest source of foreign investment in China is likely to serve as more of a deterrent to precipitous Chinese military action than the dwindling credibility of U.S. intervention.


None of this is to say that the United States should embrace China's rise. It is lead by an authoritarian regime from which we should keep our distance. But it is not, realistically appraised, a threat, economically or militarily.


In fact, Bush's uncharacteristic relative silence while in China is a sound diplomatic approach to U.S. relations with that country. As was something Bush did while there: He attended a church service. Bush didn't say much afterward, but it highlighted the suppression of religion in that still benighted country.


Sometimes the eloquence of a simple act says more, and is more effective, than the often futile posturing of diplomacy and military power.

Every weekday JewishWorldReview.com publishes what many in in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.

JWR contributor Robert Robb is a columnist for The Arizona Republic. Comment by clicking here.

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