You guys are talking so much about being taken over by the Chinese, but if you ask the Chinese what they are worried about, they will tell you India! India has a cheaper labor pool(and more educated) than China does. India has sent its best people(top 10%) over here to learn at our universities. Then they go back home and apply what they have learned to our detriment. Did you know that a large portion of our tax returns, and x-rays, are read in India? I would hate to be an accountant in 20 years. Why pay a lot here when you can get it done there for a fraction of the price.
Globalization is coming whether we like it or not. Unless the country stops its "free trade" policies it will only get worse. It stands to reason: no one in India and China has the kind of standard of living that we do here, so of course we need more for our goods than they do there. We are indeed in trouble, but because we(Americans) tend to go for the "cheapest" deal we can get, we are getting what we paid for.
I think it stinks. I think rules should apply equally to all countries. I think my dad should have gotten a decent price for his wheat and barley instead of having to compete with other countries that could dump subsidized products here with impunity. He had to sell out before he lost everything. We will truly be in dire straits when there are no farmers left and we depend on other countries to feed us. Then we will be the "Third World" country while China and India laugh their keesters off.
Sorry for my rant, but as a teacher, I am having one heck of a time getting the kids to understand the gravity of the situation with China and India. They are so darned busy watching TV, playing video games, and playing with their new toys(from China), that they don't even bother to apply themselves to school. They are the ones who will really see the changes we are beginning to witness.