The news must have pleased U.S. Federal Reserve Chairman Ben Bernanke, who this week urged Chinese to spend more to help correct imbalances in the global economy — namely the U.S. trade deficit with China and an undervalued Chinese currency, both constant sources of political friction.
But China also gave Washington headaches this week after it took steps to impose new tariffs on nylon imports from the U.S. The nylon spat follows a string of simmering trade disputes over tires, auto parts and chicken.
Beyond trade and economics, the dragon is also sharpening its claws in global politics.
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