China’s Turn To Lecture U.S. On Economy

Wrapping up the bilateral economic talks, U.S. Treasury Secretary Hank Paulson called them full of “straightforward back-and-forth”, while his counterpart Vice Premier Wang Qishan used the phrase “constructive, candid and pragmatic.” (Xinhua’s report on $20 billion trade aid and other agreements here.)

The global financial crisis dominated the meeting, giving Chinese officials an opportunity to lecture the U.S. about the shortcomings of its financial system as opposed to U.S. officials lecturing about China’s trade practices, currency, product safety and financial regulation, which is how these biannual sessions have tended to go in the past.

There is no high ground for anyone to occupy any more.

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Filed under China-U.S., Economy

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