Not sure I understand your last paragraph.
In a partnership, both sides have to see a continued benefit. From what you describe here, though, it sounds more like "we are continuing to sell off the farm."
Here's the quote:
"Indeed, economic and energy security appear to be the long-term concerns. For example, the report described Chinese investments in three energy technologies. Eventually, the authors said, production based on the acquired technology was shifted to China."
Of course this makes sense from China's point of view. But what is the long-term prospect for these US industries? IP now owned by the Chinese government?
Ultimately, naturally, the resolution will come as China's labor costs reach closer parity to our own. Either because theirs rise or because ours fall.
I remember back when Japan was buying a lot of industries in the US back around 1989 (including the Rockefeller Center!) and it created a lot of paranoia.
Then the Japanese economy collapsed about 7 years later, and they were forced to sell off a lot of their assets at a big loss (including the Rockefeller Center).
I also remember the Japan paranoia of the late 1980s along the "The Japan That Can Say 'No'". Japan was a bubble ready to burst. Today, China finds itself in a similar situation as the U.S. seeks to leverage its entrepreneurial advantages.
Hey, it's a buyer's market... I think China is being really smart, diversifying assets and buying while stakes are cheap.
I remember when I used to play the board game Monopoly with my sisters, and it used to drive me mad that my younger sister used to buy every single thing she landed on. It looked willy nilly. But lo and behold, she'd win almost every game thanks to that strategy.
You invest your way our of a crisis. You invest to win in the long run. These are two lessons the U.S. would do well to learn. China certainly seems to know the rules....
It isn't surprising that Beijing doesn't want to increase the yuan's value. China and the US are intimate financial partners. China owns about $1T in US govt securities (yes, $1 trillion). Increasing the value of the yuan decreases the value of those securities directly. There's an old saying: "If you owe the bank $50,000, the bank owns you. If you owe the bank $50,000,000, you own the bank."
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