Everyone knows Joe Biden is not the brightest bulb on the string. But to say China is not an economic threat to America is beyond ignorant. China is a threat in every sense of the word to America. They systematically steal our IP, our best people, their trade practices are criminal, the list is a long one. So either Biden is making false statements that he KNOWS are false or he really is as dumb as a rock. Either way, his statements on China are going to be even more damaging to his chances than his long history of groping little girls and women in public.
Biden Says China Not a Threat for US
I have to say that I actually agree with Biden on this.
1. China is stealing our IP.
I don't believe in intellectual property. I don't believe that someone has a right to a "thought", and thus no one else on a planet of 8 billion people is allowed to have that thought. The concept of making thought illegal, because someone else was able to copy right a thought, is ridiculous.
2. China's trade practices are criminal.
I don't really even understand this statement. Every country has a right to pass laws on how trade is conducted, just like the US does on a non-stop basis. Additionally, there is nothing forcing us to engage in trade with China if it is not in our best interest to do so. No company in the US is required to buy, nor sell, with China. The reason they do so, is because it is beneficial to do so. Millions on millions of jobs have been created, due to our trade with China. If China wants to taxes it's citizens, in order to sell us cheaper goods (subsidies), then let them. Why would we complain because we are getting a product at a cheaper price, because someone else is freely choosing to pay for it? Let them pay for it.
3. China is stealing our best people.
I'm not sure what this refers to, but if people are actually choosing to go work in China, instead of staying in the US... then US companies are not paying enough money to keep them, and that is their fault. Seriously, how little must they be paid, to reach a point that moving to China is a step up?
4. China is an economic threat.
Here's the reality. It depends on what you mean by "economic threat". If you mean that the US will no longer be the dominate economy in the world, then yes they are a threat to that.
You need to grasp that it won't matter what we do, if China follows Capitalism, they will over take the US economical. In fact, if India were to take a dramatic shift towards Capitalism, in 5 years, we would all be talking about how India was the economic threat to the US economy.
And the reason is simply because both countries have more people. More people, makes economic growth easy, in a Capitalist system.
Say you have two countries, one with 1,500 people, and another with 330 people.
The country with 330 is earning $65 per person a year, while the other is only earning $5.
Country A - 330 people X $65 per year = GDP $21,450
Country B - 1,500 people X $5 per year = GDP $7,500
Country B engages in Capitalism, which always works. The earnings per person doubles to $10.
Country A - 330 people X $65 per year = GDP $21,450
Country B - 1,500 people X $10 per year = GDP $15,000
This is where we are with China right now. If they increase their income by just a little more than $4 per person, they will over take the US economy.
Country A - 330 people X $65 per year = GDP $21,450
Country B - 1,500 people X $15 per year = GDP $22,500
Now here's the reality. I shortened those numbers, to make it easier to understand. But the reality is, making $15,000 a year, is minimum wage in the US. If the Chinese can achieve a yearly average income, of what would be minimum wage in the US, they over take the US as the economic powerhouse.
Is there anything we could possibly do to prevent that? The answer is no.
No amount of policies, no amount of regulations, no amount of trade deals, trade wars, or anything, is going to stop the Chinese from increasing their income through advancement. They will over take the US, unless they stop engaging in Capitalism. If they go back to socialism, or if they stop liberating the market, or if they increase regulations to hamper growth.... then they will not over take the US. Again, would not matter what we did.
So if you want to prevent China from becoming the economic power house of the world, there are a few solutions
1. Move more towards free market capitalism ourselves. Deregulate. Reduce taxes. Cut social spending (medicare, medicaid, food stamps, public housing, social security). Put the money back in the hands of the public, and allow the economy to grow.
2. Have more kids, and have kids sooner rather than later. If everyone had kids in their early twenties, instead of mid 40s, and if people had twice as many kids, 4 instead of 2, the population of this country would be vastly higher. If we had 400 Million people, instead of 330 Million, you could easily see from the math, that our GDP would be vastly higher.
3. Ruthlessly enforce justice. If we eliminated the murders, rapists, and abusers, we would have a ton more people, and those people would be productive. The fact is, between crime and our welfare system, we have an entire section of the population that is unproductive, and a burden on society and the economy. Eliminate both, and the economy will vastly improve.