Is there any other rational explanation of why China was granted "Most Favored Nation" status and entrance into the WTO other than short sightedness and the wil

Is there any other rational explanation of why China was granted "Most Favored Nation" status and entrance into the WTO other than short sightedness and the willing to sell out the western workers for a quick buck? No company can manufacture in China without transferring their technology and know-how to a local company. I can understand why China does this. Seems to be working well. Why does the west support this undemocratic, closed system, internet firewall, rising economy; soon to be superpower? Cheap iphones? The west had quite a bit of leverage over China at one point. No longer.