It's an offer that will never be taken up. Other countries are not likely to drop their trade barriers any time soon.

As the U.S. trade deficit becomes more and more of a concern, the currency issue and intellectual property are both tougher issues to crack than textiles.

As the U.S. trade deficit becomes more and more of a concern, the currency issue and intellectual property are both tougher issues to crack than textiles,

Deng engineered the most dramatic economic transformation of the 20th century, maybe ever. He changed China from a moribund, communist economy to an expansive, bull, rapidly growing mixed economy, with Marxism and market elements both present there. And it's a dramatic change.

Say you buy a factory in Brazil. When Brazil devalues its currency, that factory's value in dollars drops dramatically so your investment is worth a lot less. People are less likely to invest in a country that's prone to devaluations.

Say you buy a factory in Brazil. When Brazil devalues its currency, that factory's value in dollars drops dramatically so your investment is worth a lot less. People are less likely to invest in a country that's prone to devaluations,