Imagethief sums up US paranoia over Cnooc’s recent bid … just about everything China does.:

Current “yellow peril” scorecard:

• Currency manipulators
• Textile dumpers/WTO flouters
• Growing militarists (from Rumsfeld’s recent address in Singapore, an odd criticism from the United States, which accounts for something like half of planetary defense spending)
• Resource appropriators
• IPR violators (this one is probably deserved, but it adds to the din)
• Potential (not actual) US Treasury bond dumpers
• Etc.

He adds a number of solutions.:

• Stop driving all those Cadillac Escalades and be just a tad more fuel efficient
• Convince Americans to start saving, even just a little, and slow down the debt-financed consumer binge that is powering the trade deficit
• Spend less money on misguided foreign military adventures and ill-conceived weapons and more on the public schools which appear to be failing to train our next generation of technologists

I’m not in agreement with point three, but I will add a fourth point:

• The US, not China, is responsible for the number of treasury bonds it issues. If the country is so concerned about the threat of China dumping treasuries the way to fix this would be to cut back on issuance (ie. stop borrowing and cut spending).

I welcome further additions…