It was in this proud tradition that we cast our votes. The business of America must be more than just business, and engagement must be through more than just the cash register. Doing so would not end trade with China, despite the assertions of some. Rather, it would be a powerful tool to renegotiate current trade imbalances. This is because China imports less from America than even small countries like Belgium.
China spends less on Oregon products than even Egypt.
These trade imbalances stem from the fundamentally flawed assumptions of MFN advocates. Those who favor normalization and China's accession into the World Trade Organization ignore the limits of tariff-based trade policy. China is not a market economy. The Chinese currency is not exchangeable. The small but growing private sector in China has its imports controlled by licensing requirements and currency controls.