US policymakers may be tempted, for geopolitical reasons, to reverse the policy of economic engagement with China pursued by successive administrations in the decades following President Richard Nixon’s historic 1972 visit. But such a step would carry significant risks.
NEW YORK – On February 21, 1972, Richard Nixon became the first US president to visit the People’s Republic of China, setting in motion a process that would end China’s decades-long isolation and kick-start the emergence of a modern, dynamic economy. But, despite the seismic economic changes in China in the intervening half-century, many in the West regard today’s People’s Republic as an unreformed communist country whose unfair trade practices are harming Western workers and consumers. Although this impression is partly a by-product of today’s geopolitical competition, it also reflects a lack of historical perspective.
NEW YORK – On February 21, 1972, Richard Nixon became the first US president to visit the People’s Republic of China, setting in motion a process that would end China’s decades-long isolation and kick-start the emergence of a modern, dynamic economy. But, despite the seismic economic changes in China in the intervening half-century, many in the West regard today’s People’s Republic as an unreformed communist country whose unfair trade practices are harming Western workers and consumers. Although this impression is partly a by-product of today’s geopolitical competition, it also reflects a lack of historical perspective.