Why China-Bashing Is Not a Good Strategy

The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.

NEW YORK (TheStreet) -- China-bashing is back with a vengeance. American politicians know that voters love this type of tough talk. They also love a bogeyman that can be fingered for the nation's economic ills. Red China, the last bastion of the evil communists is a perfect Darth Vader-like replacement for America's former arch nemesis, the Soviet Union. There it lurks manipulating its currency, stealing intellectual property, aiding U.S. enemies, abusing human rights and causing America's trade deficit. So what if this takes China out of context, most Americans don't know that.

The Chinese have made it clear that they don't like the rhetoric, except when it can be repurposed into rhetoric on the dangers of democracy and individual freedoms. For example, America as a greedy soon to be ex-economic superpower suffering from capitalism gone wild, being led by a failed democratic system that prioritizes opposing points of view over national progress. Add to this a warmongering nation obsessed with military power following in the footsteps that felled the Soviet Union. So what if it takes America out of context, most Chinese don't know that.

The titan's verbal sparring is dangerous. It's no wonder that in China and elsewhere in Asia there is talk of a second cold war. Only in Cold War II, the communists are the odds on favorite to win because China is fingered for economic supremacy.

China's economic supremacy is anchored in Asia's century. As much as America would love to be at the center of Asia's rise. This is not in the green tea leaves. China, the Asian giant with 1.34 billion people, astronomical growth, and sitting in the front and back yard of Asia is sitting pretty for the commanding role in the 21st century.

China is already the largest trading partner of half the countries in Asia. Meanwhile the U.S., stuck in the Cold War I global super cop mindset is taking extra militarily measures to defend its Asian allies in the neighborhood, while its "protectorates" build economic ties with Darth Vader. So America is producing guns while everyone else is producing butter.