Pat Buchanan calls it the way it is:
In 2012, China’s trade surplus with the United States was over $300 billion, largest in history between any two nations.
What has China done with the wealth accumulated from those trade surpluses with the United States? How has she shown her gratitude?
She has used that wealth to lock up resources in Third World countries, build a world-class military, confront America’s friends in neighboring seas, engage in cyber-espionage, and thieve our national and corporate secrets. Is this the behavior of friends or partners?
And if the Chinese airily dismiss our protests, who can blame them?
For years they have engaged in cyber-espionage. They know we know it, and they have seen us back off calling them out. For years we have threatened to charge them with currency manipulation, and for years we have backed off.