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Is the rise of China a threat or opportunity for the United States?

A threat? How could China be a threat to the world and the United States? What would be considered a threat for the US?
An opportunity? What could China offer the US? What could China offer the international community?
Examples and past relationships
Weapons of mass destruction and the war on terror?
China's need for energy?

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    Nov 27 2012: It has been good for both countries. The U.S. has gotten more stuff for less money via Wal Mart.

    People think that the jobs are going there because everything they see says made in China on it. The largest manufacturing country in the world is the United States by far. The U.S. builds jets, big tractors, high tech stuff, etc. which the average consumer does not see the made in tag.

    By producing stuff for a cheaper cost the market expands as more people can afford it. The higher volume affords more job in importing, sales, installation, service, etc. The net effect is more jobs for both countries.

    No question the U.S. has problems and they will catch up with us sooner than later but trading with other countries is not one of them.

    View this video for a further explanation.

    http://www.ted.com/talks/matt_ridley_when_ideas_have_sex.html

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