It’s not just IP theft, it’s also the forced transfer of IP thru legal means. When Hyundai opened a factory in Alabama, did USG insist on technology transfer? No. But you are right, I should have defined wealth transfer more completely. It is an historic transfer of wealth and knowledge from North America to China and from the US middle class to the corporate/financial elite. The US middle class/working class has pretty much been sacrificed at the altar of the “Chinese miracle “. And frankly I don’t think we need worry about any catastrophic impact on the Chinese people. The Cultural revolution was a disaster for China but it did not affect me one bit. I had a very happy childhood during those years. Never thought once about Mao or the red guard. It was only when US companies started outsourcing jobs to China that things began to get difficult.