The Economic Rise of China: Threat or Opportunity?

China’s economy is opening up to the outside world. This worries those who fear that country’s huge pool of low-cost labor will drain jobs from U.S. shores, and less expensive goods will spark trade problems. The author points out that not only does China’s untapped market present huge opportunities for U.S. businesses that would surely outweigh any loss of jobs, but the sort of jobs that would move to China left the U.S. a long time ago. And with respect to fair trading practices, China has made much progress.