In the course of a generation, life in China has moved from total domination by a murderous regime to one of increased material prosperity, freedom of movement, rising commercial opportunity and relative abundance. While there are certainly some political problems that remain today, the change has been remarkable. The Chinese population now has a whole host of social and economic options that were not previously available. It should be noted that the United States has shared in China's economic growth as well. Thanks in large part to our current trade policy, American consumers have access to thousands of consumer goods at low prices.
Lower prices mean that consumers save on the products they use every day.
In addition to lower prices, the current trade relations mean that capital and labor in our country can be freed up to concentrate on producing those goods and services that provide the U.S. with a comparative economic advantage. Each day, computer software, automobiles, agricultural goods, building supplies and many other goods and services are made available for export to countries all over the world, including China. Moreover, with the increased globalization of commerce, it is no longer possible to say that products are made solely in one country or another. Computers can feature American microchips and software, Japanese communications packages and Chinese electronic parts. The same is true for cars, clothing and foodstuffs.