Jo Ann Emerson Quotes

With a strong domestic economy, low national unemployment at 5 percent, and increasing retail sales, the picture should look rosy. But one look at the trade deficit changes all of that.

China is not only formidable, it is also aggressively building its own economic infrastructure. Just a few years from now, China will rival the U.S. and the European Union in global market power. It already has surpassed us in population.

As the U.S. trade deficit, and the portion of that deficit attributed to China, continue to grow, our own economy is at risk of losing its reputation as a leader in world trade.

America’s largest trade deficit is with China, a nation that enjoys Permanent Normal Trade Relations with the U.S. and ties its currency to the dollar to make it a more competitive trading partner.

America won the Cold War by protecting our strategic resources from the threat of foreign control. We must bring the same attitude to our trade relationship with China.

Already, China has undermined U.S. foreign policy in efforts to gain access to oil resources in Iran and Sudan. We simply cannot separate the political and economic values of oil.