Much of the routine trade and investment between China and America is entirely appropriate and in America’s interest. But inserting the Chinese Communist Party into America’s pay-to-play system and its economic development strategy isn’t just crossing a line. It’s a leap into an abyss of stupidity.
The irony of all of this is that in a perverse way, the legacy pension costs are so expensive that the layoffs lead to smaller government. Norquist would have preferred less taxes and small government; but IL goes about it backwards – higher taxes and smaller government. We can’t get anything right!