Video of the Day
Gordon Chang is extremely well known for being bearish on China, and so represents only one side of the scholarly debate on China and Chinese policy. Nevertheless, he points out something that is very interesting, and is often overlooked when dealing with U.S. and Chinese relations. Often people seem to think that the U.S. needs China because China has a huge market, but the trade balance shows that really it is China which needs the U.S. market. The only thing China buys in large quantities is U.S. debt, which I think most Americans would happily quit exporting.
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