It is election season again in the United States and, thus, a bit of China-bashing is in vogue. But this year, it is more muted than usual, probably will have little effect on Sino-US relations in the long run, and ignores the most important issue concerning America's future in East Asia.
The question of how to deal with China has been a recurring political topic ever since the 'Who lost China?' debate of the 1950s, after the communists defeated the American-backed nationalists. It was especially prominent in 1992, when candidate Bill Clinton accused the first president George Bush of coddling the 'butchers of Beijing' who ordered the Tiananmen massacre.
China policy is much less emotional this time; Iraq is the dominant issue. But there are economic matters that can be blamed for some of America's slow job growth, creating yet more splits between President George W. Bush and Senator John Kerry. These could cause new friction between Washington and Beijing if the campaign rhetoric eventually turns into specific action.
Already, there have been some minor moves. Bowing to political pressure, Mr Bush has allowed modest protection measures against such less-than-crucial Chinese products as bras and bedroom furniture. The key is that he seems willing to do so whenever Chinese imports can be blamed for job losses in constituencies he cares about.
More importantly, the White House is pressing China to revalue its currency sharply upwards to help cut the huge US trade deficit. For the record, it wants China to float the yuan and let market forces set its value, although both American and Chinese economists consider such a move unwise.
For Senator Kerry, this is not nearly enough. He accuses Mr Bush of being 'asleep at the wheel' and demands tougher action against Beijing's allegedly 'illegal currency manipulation' and unfair trade practices. He accuses Mr Bush of letting China violate its own obligations to let in more foreign products under World Trade Organisation rules, claiming this destroys the jobs of many workers. Precisely what he would do if elected is not clear, but the thrust is that he would be tougher and more demanding of China's leaders.