You are old enough to remember when the premise of China controlling or dictating policy to the United States would have been considered science fiction. Yes, there are fluctuations, but so far the plan to have Robert Rubin run the USA hasn't been a roaring success for the nation.

Have you been paying attention to China's economic situation lately? China is not recession proof and is currently having massive layoffs and labor problems with all the unemployed factory, mine, and service workers. China is no position to "dictate" or "control" our economic policy. Their economic bailout, so far, is a much greater percent of GDP than any country. There have been recent articles in IBD and WSJ lately. Check them out. The notion of China dictating US economic policy, currently, is that of the person holding a gun to his head and saying, "You had better do so and such or I will blow my brains out and show you!"