Republicans and Democrats, liberals as well as conservatives, have bought into anti-Chinese-trade demagoguery. Former House Speaker Nancy Pelosi suggested that tariffs against China are a “key part of our ‘Make It in America’ agenda.” During his 2010 campaign, Senate Majority Leader Harry Reid, D-Nev., called his Tea Party-backed Republican challenger, Sharron Angle, “a foreign worker’s best friend.”
In a recent news conference, President Obama gave his support to the anti-China campaign, declaring that China “has been very aggressive in gaming the trading system to its advantage,” adding that “we can and should take action against countries that are keeping their currencies undervalued … [and] that, above all, means China.”
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