China with respect to free trade.

[Markainion]

I watch Alan Greenspan and the Fed’s latest congressional hearing yesterday. I was surprised by how ineffective the Fed was at countering the anti-free trade coalition against China. The reason the Fed wasn’t able to win this argument was they seemed to have no answers with respect to getting China to abide by World Trade Federation (WTO) rules, an organization that China joined in 2001.

I have included a link from CNN, called “Beware (fixing) the China problem” Link below for that want to read more on this.
http://money.cnn.com/2005/06/23/news/economy/greenspan_china/index.htm

No obvious solutions
Schumer wasn't the only senator to express outrage at Thursday's hearing over the state of U.S.-China economic relations. And while everyone agreed that the trade imbalance, intellectual property rights and China's currency continue to be serious problems, there was considerable disagreement -- mostly along party lines -- about the best solution.
A series of pending legislative proposals, including the Schumer-Graham bill, call for across-the-board tariffs against Chinese imports, spurred by U.S. manufacturers who say China's imports are undervalued by as much as 40 percent -- and that tens of thousands of U.S. jobs have been lost as a result.
Several Democratic senators said it's time to force China, which joined the World Trade Organization (WTO) in 2001, to play by international rules.
Greenspan and Snow, clearly worried that spiraling U.S. deficits are driving Congress toward trade action against China, sought to soften the angry mood by pointing out the possible consequences should the U.S. retaliate.
Greenspan warned lawmakers that moves to limit China's involvement in the U.S. economy with tariffs could end up backfiring.

I only included a small section of the article; Greenspan gave a few reasons why retaliation isn’t a good Idea. My question is what do we do with a country that blatantly seems to care little about international commerce rules. A country that many businesses want to do business with, but increasing amounts of US companies are loosing billions in Chinese thievery. The Chinese’s government loves US free trade policies with respect to benefiting them, but cares less about free trade when it doesn’t soot them.