China and U.S. Sit On Opposite Ends Of Global Economic See-Saw

The latest round of the Strategic and Economic Dialogue with the U.S. is done. Goodwill and common purpose expressed in public: China will boost domestic demand and the U.S. will toughen its financial reform. Whatever.

In private, Beijing was forthright in expressing well-rehearsed concerns about the dollar’s value and America’s deficits. And there remains deep differences on climate change, where the China-India axis is the developing fault line of global geopolitics. But there is more to unite two pragmatic administrations in Beijing and Washington than to divide them. They are the two powers on the opposite ends of the global imbalances see-saw.

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