Getting Tough or a New Era of Partnership? (3)

17:36, March 26, 2010      

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The reality is that China is already a responsible nation that is highly successful, in part, because it has unilaterally implemented the Principles of Peaceful Coexistence with America and all other nations. America has not yet reciprocated the Principles of Peaceful Coexistence with China, has catastrophically mismanaged its economy, and is the biggest currency manipulator in history. America's annual GDP is US $ 14 trillion, but Americans are in the tightening vice of growing financial, economic, social and political crises and government insolvency. China must continue to manage its currency and economy successfully. China's annual GDP is US $ 4 trillion and it holds about US $ 3.5 trillion dollars of American government debt and US dollar currency reserves. Secretary of State Clinton stated rhetorically during the presidential election campaign, "How do you get tough with your banker." Some people believe that if you owe enough money to your banker, you are in control. That is not true in the case of America and China. As a result of American economic policies hostile to China and increasing impact of the global financial and economic crises that arose from catastrophic American financial innovation, China is making itself much less reliant on demand from America's consumers and and demands from America's policymakers.

It is not realistic for Ben Berancke, Hank Paulson, Paul Krugman and others to say that China caused America's financial and economic crises because China had a huge trade surplus with America over the past decade; and because the Chinese saved too much and thus caused Americans to borrow too much The idea is that if the Chinese saved less and consumed more, it would benefit America. The illusion is that since China can manage its currency to provide its 22 percent of mankind's continued economic stability and growth in the years leading up to and during a global economic crisis, China must stop doing that.

The illusion is that if America threatens or punishes China for managing its currency's stability and economy successfully, the Chinese will buy more American exports and thereby solve America's growing financial, economic, unemployment and national security problems. The illusion is that harming China's exports, jobs and profits and causing a trade war will increase American exports to China and Americans' employment rate and corporate and stock market profits. The illusion is that free trade benefiting America requires that America prevent free trade that does not benefit America. The illusion is that China will, should and can be forced by increasing bilateral or multilateral coercion to do what American policymakers tell it to do.

America can most effectively protect its economic interests and national security and project its ideals if it does so in a "low key way" like China does rather than in hegemonic or hostile ways. Asserting America's weakened economic, military and ideological hegemony and hostility to other civilizations, such as China, is part of the old and ultimately disastrous era. They are not part of a successful new era of partnership of the world's largest and second largest economies.

What is impossible for President Obama's administration to achieve with the current "simultaneous clash and collaborate with China" agenda can be achieved if America gives the clash of civilizations part of its agenda a long deserved rest. America then implementing a new "Collaboration of Civilizations" agenda, which the Chinese call creating a "harmonious world," will immediately make otherwise unachievable breakthroughs possible. American policymakers would then find Chinese policymakers very forthcoming in negotiating the genuinely reciprocally beneficial policies needed to align America's and China's economic, employment and national security needs. The current American agenda that demands China change its successful political, legal and economic systems is self-defeating.

A new American agenda that reciprocates China's Principles of Peaceful Coexistence by opening up to Chinese investment in American business and not interfering in China's internal affairs will quickly restore America's economic growth and increase the two largest economies national security. Such a new American agenda will restore the success and the innate charisma of America's political, legal and economic systems. It will exemplify the ideals of protecting the rights and tolerating the opinions of others that the American political system was designed to exemplify.

John Milligan-Whyte has been called the "new Edgar Snow" and "21st century Kissinger" and is the winner of Social Responsibility Award from the 2010 Summit of China Business Leaders. John Milligan-Whyte and Dai Min are co-hosts of the Collaboration of Civilizations television series, founders of the Center for America-China Partnership, recognized as "the first American think tank to combine and integrate American and Chinese perspectives providing a complete answer for America and China's success in the 21st century," and the authors of the America-China Partnership Book Series that created a "New School of America-China Relations."
E-mail: [email protected]; [email protected]

The article represents the author's views only. It does not represent opinions of People's Daily or People's Daily Online.
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