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In 1980 the USA held all of the cards with respect to China. China needed access to US markets in order for its economy to grow rapidly enough to provide domestic stability. The USA could have made any demands it wished in return for that privilege. China required an annual waver as it did not comply with the terms of the Jackson-Vanik Amendment. But each year this waver was passed due to business lobbying. In 1999 China was granted Permanent Normal Trade Relations during the Clinton Administration. The interests of some segments of the US business community were privileged over all other US interests. The neo-liberal political corruption the US political system allowed did us in.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sat Oct 26th, 2019 at 03:47:42 AM EST
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