Of trade deficits and national security...
U.S. Congressman Randy Forbes (R-VA) has sent a letter to Secretary of Defense Robert Gates calling his attention to the Department of Defense’s yearly failure to comply with the legal deadline for submitting the “Annual Report to Congress on the Military and Security Developments Involving the People’s Republic of China.”
Forbes is right to be concerned about the national security aspects related to China. America's record $273 billion trade deficit with China last year has certainly helped Beijing to fuel its military expansion.
Enforcing trade laws, stopping currency manipulation, and ultimately rebalancing our economy is in our national security interest.
Kudos to Rep. Forbes for raising this issue. Over the last decade, China has been ramping up its military while the U.S. trade deficit with China has soared.
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