By the time you read this blog posting, you probably already have cast your vote for America's next president. But before the results come out, let's look at what Sen. Barack Obama has pledged to do if elected. In a letter to the National Council of Textile Organizations, he vowed to use all diplomatic means to stop China from gaining an unfair trade advantage in global markets by manipulating its currency.

An interesting article from the Los Angeles Times quoted a few Chinese foreign-relations experts, who are not overly concerned with Obama's tough line.

But they may well be stretching their optimism.

Richard Baum, director of China studies at UCLA told the LA Times that: "Unfortunately, the search for villains abroad intensifies as the economy worsens at home. So notwithstanding Obama's relatively benign intentions, the first year of his presidency could see a sharp increase in protectionist pressures."

That's exactly what is going to happen, no matter who wins this election, as far as I am concerned.

The report rightly pointed out that "China has traditionally favored a Republican in the White House. Richard Nixon's surprise overture in the 1970s helped break decades of Chinese isolation. And the GOP's more laissez-faire economic policies have generally meant fewer human rights headaches, from Beijing's perspective, and less focus on lost U.S. manufacturing jobs or China's huge trade surplus."

Democrats, on the other hand, tend to be less keen on selling arms to Taiwan, which China considers part of its territory. But at the same time, former President Clinton has a huge fan base in China with his trade approaches.

That's why I often get asked by my friends in China: "Why are the Democrats currently in power [Nancy Pelosi is usually named] so different than Bill Clinton [in terms of their attitude and policies on China]?" I reply: "It has more to do with the individual than the associated political party."

An obvious trend I notice is also mentioned in the LA Times report: The Chinese are reminding Washington that it needs China, especially now. During my coverage of the Rotoplas show last month, the handful of Chinese exhibitors in attendance bombarded me with frequent mentions of the nearly $1 trillion U.S. government debt held by China. They, and all Chinese people, are proud, I know.

But they should be very concerned at the same time: the U.S. and China are in the same boat, and, as I see it, the U.S. still holds the upper hand in the game.