Wisconsin Public Radio

Manufacturing is still critical to the economy United States. Clyde Prestowitz, says it's time to start realizing the positive spillovers that manufacturing creates... Read more  

Events & Activities

Stephen Olson at Chinese Development Institute Conference

 

 Clyde Prestowitz giving presentation to CDI...

 

Steve Olson teaching trade negotiations at the Mekong Institute...

 

Stephen Olson to speak at upcoming workshop organized by the International Institute for Trade and Development on 

"Economics of GMS Agricultural trade in goods and services towards the world market"

Chiangmai, Thailand Sep 8-12.

(06/30/10) Prestowitz Thoughts on Chinese Currency Discussed in the Washington Post

Steering U.S.-China economic relations toward a new normal

By Steven Pearlstein
Wednesday, June 30, 2010

Let's take a moment to note that stock prices fell sharply Tuesday in part because of a downward revision of leading economic indicators -- in China.

I suspect that Richard Nixon and Henry Kissinger had no idea what they were getting us into 40 years ago when they first broached the subject of normalizing relations between the world's most populous nation and its richest. Nor could Bill Clinton and his team have foreseen how imbalanced an economic relationship they were ushering in with the deal that effectively opened U.S. markets to Chinese exports. If we had known then what we know now, we would have surely insisted on tougher terms.

Getting this economic relationship back into balance is the single biggest challenge to the global economy, not just because of its direct effects on China and the United States, but the indirect effects it has on the rest of the world. The alternative is a return to living beyond our means, a further erosion of our industrial and technological base and a continued loss of ownership of business and financial assets.

Click Here to read the entire article in the Washington Post.

Join our mailing list

Latest Publications


The Betrayal of American Prosperity.


The Trans-Paific Partnership and Japan.


Making the Mexian Miracle.


Industrial Policy and Rebalancing in the US and China.


The Evolving Role of China in International Institutions.

 

Contact us

Economic Strategy Institute

1730 Rhode Island Avenue, NW, Suite 414 |  Washington DC  |  20036
Ph (202) 213-7051  |  Fax (202) 965-1104  |  info@econstrat.org