According to data from the US Treasury Department, as of May 2020, the CCP holds US $1.08 trillion in US Treasury bonds. Bianco suggested that the Trump administration exchange bonds with the CCP, that is, use the Hukuang Railway Bonds to repay the U.S. Treasury bonds held by the CCP. Bianco said that she is confident that this matter will succeed.</small><br>https://youtu.be/8B4L_dqU79c</ref>
===WTO membership===
[[File:2018 trade deficit.jpg|thumb|500px|right|U.S. trade deficit with China. The difference between the red line and blue line represents an outflow of American wealth - [[capitalism|capital]] that could be used to create American jobs rather than jobs in China and prosperity for the [[Chinese Communist Party]].]]
Despite the CCP's human rights abuses in the Tiananmen massacre, no trade sanctions were ever leveled by Western Powers and globalists. China was rewarded for its human rights abuses in 2001, despite the absence of reforms, by being welcomed into the World Trade Organization with full membership and a year later granted [[Most Favored Nation]] trade status by the [[U.S. Congress]]. China formally joined the World Trade Organization ([[WTO]]) in December 2001.
By 2017, the imposition of [[tariff]]s by U.S. President [[Donald J. Trump]] began to redress the imbalance of a half-trillion dollar a year [[trade deficit]] and the outflow of American wealth to China. China's economy was developed over those early decades of the 21st century as a coastal, manufacturing economy entirely dependent on exports. Young people left their home villages in the countryside to seek work in coastal factories. The prosperity was all built on access to the U.S. consumer market, and Americans' appetite for cheap manufactured goods. Scant attention was paid to developing a domestic service sector economy, while the vast interior remained impoverished, and increasingly so as young people abandoned rural agricultural work for urban factory work.
No sanctions were ever leveled by [[The West|Western powers]] and [[globalist]]s for these naked human rights violations. In fact, China was welcomed into the [[World Trade Organization]] (WTO) in 2001 and granted Most Favored Nation ([[MFN]]) trade status by the [[United States]] in 2002, having made no reforms to its socialist, [[authoritarian]] and [[totalitarian]] system.
Contrary to Cold War era belief that free trade would encourage non-democratic countries to become more democratic - an argument used to sell globalization - experience ultimately proved free trade only strengthens tyrannical regimes. By 2020, the notion that [[democracy]] and free trade go hand-in-hand had been thoroughly discredited.
===Most Favored Nation status with the U.S.===
:{{See also|Most favored nation}}
As China has been growing in power, it has also become increasingly aggressive on the international stage.<ref>Scaliger, Charles (February 19, 2019). [https://www.thenewamerican.com/print-magazine/item/31388-china-s-new-aggression-on-the-world-stage China’s New Aggression on the World Stage]. ''The New American''. Retrieved February 19, 2019.<br>See also:
*Blanchard, Ben (September 24, 2019). [https://www.reuters.com/article/us-china-anniversary-timeline/timeline-seven-decades-of-communist-china-idUSKBN1WA03Z Timeline: Seven decades of Communist China]. ''Reuters''. Retrieved September 25, 2019.
*Newman, Alex (September 25, 2019). [https://www.theepochtimes.com/is-trump-really-to-blame-for-chinas-rise-at-the-un-as-media-claim_3094695.html China’s Subversion of the United Nations]. ''The Epoch Times''. Retrieved September 26, 2019.</ref> The country's Communist Party also increased control over the country and economy,<ref>Multiple references:
*Byas, Steve (March 7, 2019). [https://www.thenewamerican.com/world-news/asia/item/31676-chinese-communists-tighten-grip-as-70th-anniversary-nears Chinese Communists Tighten Grip as 70th Anniversary Nears]. ''The New American''. Retrieved March 8, 2019.
*Li, Olivia (March 6, 2019). [https://www.theepochtimes.com/china-cracks-down-on-private-enterprises_2825959.html China Cracks Down on Private Enterprises]. ''The Epoch Times''. Retrieved March 8, 2019.
See also:
*Blanchard, Ben (March 7, 2019). [https://www.reuters.com/article/us-china-parliament-politics/in-sensitive-year-for-china-warnings-against-erroneous-thoughts-idUSKCN1QO0X0 In sensitive year for China, warnings against 'erroneous thoughts']. ''Reuters''. Retrieved March 9, 2019.
*Timm, Leo; Hao, Nicole (December 24, 2019). [https://www.theepochtimes.com/year-in-review-for-communist-china-the-worst-is-yet-to-come_3180253.html Year in Review: For Communist China, the Worst Is yet to Come]. ''The Epoch Times''. Retrieved December 24, 2019.
*Adelmann, Bob (December 30, 2019). [https://www.thenewamerican.com/world-news/asia/item/34476-china-facing-massive-headwinds-in-2020 China Facing Massive Headwinds in 2020]. ''The New American''. Retrieved December 30, 2019.</ref> and foreign companies worked to appease the Chinese government.<ref>Lowe, Tiana (August 15, 2019). [https://www.washingtonexaminer.com/opinion/woke-capitalism-cowers-to-china Woke capitalism cowers to China]. ''Washington Examiner''. Retrieved August 26, 2019.<br>See also:
*Kraychik, Robert (October 14, 2019). [https://www.breitbart.com/radio/2019/10/14/rob-spalding-china-silenced-its-critics-buying-off-americas-elites/ Rob Spalding: China Silenced Its Critics by Buying Off America’s Elites]. ''Breitbart News''. Retrieved October 14, 2019.
*Virgil (October 20, 2019). [https://www.breitbart.com/politics/2019/10/20/virgil-five-takeaways-from-capitalisms-kowtow-to-china/ Virgil: Five Takeaways from Capitalism’s Kowtow to China]. ''Breitbart News''. Retrieved October 21, 2019.</ref> China uses about half of the world's steel and cement/concrete. In the 3 years from 2011 to 2014, China used 6.6 gigatons of cement, which is more than the US did in the entire 20th century.<ref>https://www.gatesnotes.com/About-Bill-Gates/Concrete-in-China</ref> China also worked to isolate Taiwan diplomatically.<ref>Schmitt, Gary (September 26, 2019). [https://thehill.com/opinion/international/463290-china-is-quietly-winning-the-diplomatic-war-with-taiwan China is quietly winning the diplomatic war with Taiwan]. ''The Hill''. Retrieved September 26, 2019.</ref> China became the dominant trading partner of a large majority of the world's countries, overtaking the U.S.<ref>[https://twitter.com/MhaskarChief/status/1198862204876931072 Zeeshan Mhaskar]. ''Twitter''. November 24, 2019. Retrieved December 1, 2019.<br>See also:
*Akan, Emel (January 6, 2020). [https://www.theepochtimes.com/chinas-rise-had-a-negative-impact-on-global-innovation-say-experts_3195603.html China’s Rise Has Had Negative Impact on Global Innovation, Experts Say]. ''The Epoch Times''. Retrieved January 6, 2020.</ref> Under Xi Jinping, China regressed back to Mao's totalitarianism.<ref>Adelmann, Bob (December 30, 2019). [https://www.thenewamerican.com/world-news/asia/item/34470-china-s-xi-jinping-is-now-the-people-s-leader China’s Xi Jinping Is Now the “People’s Leader”]. ''The New American''. Retrieved December 30, 2019.</ref>
===GDP===