Is China a rising colossus that intends to bully its neighbors and dominate Asia? Should Washington adopt a more hardline policy toward China on trade, human rights and national security issues? Or is China a country that has already moved far along the road to a market economy and a more open society and is committed to being a stabilizing, cooperative power?

Those are the questions U.S. policymakers must examine as they consider whether to establish permanent normal-trade relations with China and support its accession to the World Trade Organization.

The United States and other countries are betting that China's accession to the WTO will make China a more open society and eventually lead to democratic rule as well as a more stable and peaceful international policy by Beijing. But, while free trade is necessary for peace, it is not sufficient.