Trade Experts Debate China's Impact On U.S. Economy

Chinese strategies may not hurt the U.S. stock market -- but what about America's economy as a whole? Daniel Rosen, principal at China Strategic Advisory, and Peter Morici, former chief economist for the U.S. International Trade Commission, argued both sides of the issue on "Morning Call."

Rosen thinks a stronger China will equal a stronger U.S. -- and says "assumptions" about Beijing manipulating the yuan may be too "extreme." He told CNBC's Michelle Caruso-Cabrera that China's reported 11% growth rate is "relatively sustainable" -- so the Asian nation likely won't clamp down on inflation to any degree that'd stifle global and U.S. markets.

Morici, now a professor at the University Of Maryland School Of Business, said Rosen is looking only at the short term: He sees a future "price to be paid" for the benefits of cheap Chinese imports.

Morici said China's massive foreign currency purchases mean "we're living better right now" only due to "borrowing." He also said China's inefficient use of oil is driving up global petroleum prices: "Every time a job moves from Indiana to Shanghai, the price [of oil] goes up."