The House Select Committee on the Strategic Competition Between the U.S. and the Chinese Communist Party held its first hearing this week.
Defence hawks see the rise of China — coupled with its view of Taiwan — as a justification for increased defence spending most would favour anyway. In other corners of the right, now that Islamism is no longer seen as the “civilizational” foe it once was, some nationalists are eager to cast China as our defining enemy.
For instance, it’s a good sign the committee’s title targets the Chinese Communist Party and not China itself. As a matter of statecraft, we should distinguish between the authoritarian regime that rules China and the people of China.Article content In general, the economic threat from China is exaggerated. Things like China’s theft of intellectual property are real problems, but many American domestic maladies attributed to China’s growth have more to do with the challenges of automation and bad economic policy. The yuan will not replace the dollar as the world’s reserve currency because the Chinese regime will never relinquish its currency controls.
In other words, China’s threat comes primarily from the nature of the regime itself. And that threat is worsening because President Xi Jinping has been turning his back on the economic model that lifted his country out of poverty. He is returning to authoritarian measures and cracking down on private enterprise to reassert state control over the economy in pursuit of becoming a “modern socialist power.
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