China Hijacks the Wind Energy Market.
There are consequences when the United States gives China a trillion or so dollars in net trade: the Chinese use that money to capture new world markets and push others out. One example is the wind energy industry. Just a few years ago the United States and some European firms were poised to explosively grow their wind energy markets in the U.S. and China (one remembers Tom Friedman's column on alternative energy being the growth industry for America). Cheap loans and land leases to domestic startup companies, provided by the Chinese government, along with onerous local content requirements on foreign firms have allowed the Chinese to build a world-competitive wind industry on the backs of GE and others. Now the Chinese are moving to capture the U.S. and European wind markets. Our government and our normally rabid anti-free trade unions have hemmed and hawed in creating an effective response to ersatz free trade as practiced by the Chinese.