The reason, according to Michael Silverstein, is simple: the growth of China has the potential to make Americans and American companies very wealthy.
All of these [trade] disputes will be resolved in due course. They are important for many reasons. But none should cause us to lose sight of the promise China holds for U.S. companies, American workers, and the U.S. economy. China can fuel economic growth in the United States for decades to come. U.S. companies that plant the flag early, learn Chinese consumers’ tastes, and are willing to go on the wild ride that lies ahead will win the prize.
The math, which most Americans haven’t yet done, is startling. We have calculated that between 2010 and 2020, the people of China and India will consume some $64 trillion in goods and services. Chinese consumers will spend approximately $41.5 trillion, with annual expenditures increasing from $2 trillion in 2010 to more than $6 trillion in 2020... In China, annual per-capita income is projected to rise, on average, from about $4,400 in 2010 to $12,300 in 2020.
Chinese are not adverse to purchasing American goods and services. In fact, the general population welcomes American brands (just look at the successes of KFC, Apple, Ford, Hollywood, Starbucks, and numerous fashion brands such as Dana Karan and Ralph Lauren), not to mention the countless young (and old) entrepreneurs I meet every day who have come from the US to China to pursue growth in their current businesses or to start and contribute to new ones. American entrepreneurs, enterprises, and the government itself should be leveraging the growth of the Chinese middle class, not bashing it.