Messrs Prestowitz and Johnson believe some form of numerical targets should be considered among the conditions for China's accession to the World Trade Organisation.

ECONOMIST: America��s dose of Sinophobia

"The way people buy has changed completely, " says Amelia Johnson, owner of the Hong Kong gallery Amelia Johnson Contemporary, which represents artists from Macau, Japan, Malaysia, Australia and China.

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Higher prices and weaker consumer sales have led some manufacturers to stop producing palladium jewelry in China, Johnson Matthey said.

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Chalmers Johnson, an academic ally of the Prestowitz-Fallows team, illustrates the link between Japan and China with a personal tale.

ECONOMIST: America��s dose of Sinophobia

Johnson reportedly told Reuters that the company also has unprecedented opportunities to sell its Gulfstream business jets in China and other emerging markets.

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