since our elected government does not have monetary policy powers, that effects all sorts of economic problems. we don't need to have a balanced trade with china, but we certainly need to "get back to work" here, at fair prices, meaning a free market. no altering subsidies, no quotas, sound money.
your deal about cost of living increases..., technology is supposed to increase quality of life, either through lower prices or better goods. since we've delved into economics let me post the 5 points on inflation for people not in the political forum.
1. By committing itself to an inflationary or deflationary policy a government does not promote the public welfare, the commonweal, or the interests of the whole nation. It merely favors one or several groups of the population at the expense of other groups.
2. It is impossible to know in advance which group will be favored by a definite inflationary or deflationary measure and to what extent. These effects depend on the whole complex of the market data involved. They also depend largely on the speed of the inflationary or deflationary movements and may be completely reversed with the progress of these movements.
3. At any rate, an expansion results in misinvestment of capital and over-consumption. It leaves the nation as a whole poorer, not richer.
4. Continued inflation must finally end in the crack-up boom, the complete breakdown of the currency system.
5. Deflationary policy is costly for the treasury and unpopular with the masses. But inflationary policy is a boon for the treasury and very popular with the ignorant. Practically, the danger of deflation is but slight and the danger of inflation tremendous.
and now the Chinese central bank is looking at when would be a good time to decouple from the dollar. http://www.marketwatch.com/story/china-central-bank-chief-yuan-policy-to-change-2010-03-07?dist=beforebell
to the OP. Cairo Il is ~30 mins away and know a few people my age from there too.... it was to be a great hub of commerce ...even 40 years ago, but .. the riots/unrest caused it to collapse prolly as much as anything else. the town i live in has been stagnant as far as official population counts for about 20 years