China trade troubles: More than just currency

National security concerns always trump economic concerns. In 2004, the bilateral U.S. trade deficit with China totaled $162 billion. If economics were driving policy in the U.S. Government, every effort would be made to diminish that trade deficit by increasing exports to China in every way. Instead,

While testifying before the House Armed Services Committee, Acting Commerce Department Under secretary for Export Administration Peter Lichtenbaum committed to Chairman Duncan Hunter (R, Calif.) that he would draft regulations that would keep U. S. companies from doing business with the Chinese military. That commitment sounds simple enough, but it has broad implications.