China, Schmina when it comes to the State of the Union

US President Bush has delivered his swan song to Congress. And while the economy loomed large as the main focus, China's role in it has yet again been ignored. And if there is any consideration amongst the Chinese that this is a snub, I have one piece of advice: Get used to it!

George W. Bush has delivered his final State of the Union speech to lawmakers. And aside from one suggestion of creating a clean energy development plan for developing countries like India and China, Mr. Bush paid no attention to the middle kingdom. Instead, Mr. Bush's focus on trade was more directed toward South America, urging the Congress to approve trade agreements in that hemisphere instead.

So I'm going to be curious to see over the next day or so how the State of the Union address is going to be interpreted in the state-run media here in China. Undoubtedly there will be some attempt to link onto some aspect of the economic direction of the speech and tie China to it somehow. And if and when it happens, you can - at best - equate the impact of any said story to that of...say...a radio station in Lexington, Kentucky running a story about someone from that community who was in Brooklyn when the 9/11 attacks took place in Manhattan. While it may be a 'local' connection to a big story, in the grand scheme of things it means really nothing to anybody. I would argue that today's State of the Union should be a wakeup call for those in this country who have become convinced that China is one of the biggest and most important components when it comes to the politics surrounding the United States economy.

As a Canadian, I've become used to being overlooked by US Presidents and lawmakers when it comes to important policy speeches about economics. This, despite the fact that Canada is not only the United States' largest neighbor, but also shares with it the largest bilateral trade relationship in the world. Well over 500 billion dollars last year. Yet, we as Canadians get lip service, at best, in US politics. But you know what...it's been like that for us for years, and we've become accustomed to being ignored. Sure, we'd like to get a mention every once in a while during big speeches like the State of the Union address. But, you know what, in the grand scheme of things, we know we just don't score very large on the radar screen. And let's face it, sometimes as a Canadian it's nice to not be mentioned by a President with the popularity rating of Mr. Bush!

But for all the bluster and hype that you hear in the Chinese media about bilateral trade with the United States, the trade deficit and the valuation of the Renminbi, today's speech should be an indication that China isn't really carved too high on the political totem pole when it comes to US economics.

Sure, China's got a permanent seat on the UN Security Council. It's got nuclear weapons. It's got the Olympics in a few months. But in the grand scheme of things, when it comes to what's most important in US politics, which is almost always the economy, it's time to realize - if China hasn't already - that politically speaking, it still isn't making big waves.