Washington Post,Sunday, May 24, 2009 on page A18:
Pragmatism is to be driving the US agenda. The Obama administration has high hopes of winning China's cooperation on reducing harmful greenhouse gases, while close coordination between the two nations on economic issues has become critical amid the ongoing global financial crisis.
China is the biggest foreign holder of US debt, which helped finance the spending binge the United States went on before the economic crisis. Experts have expressed concern that China's substantial holdings of US debt give it increased leverage in dealing with USA because any halt in Chinese purchases of US bonds would make it more difficult to finance the government bailout and stimulus package.
Reflecting US concern,Secretary of State Clinton even publicly urged China during her February visit to keep investing its substantial foreign exchange reserve in US Treasury securities, saying, "We are truly going to rise or fall together."
Such meaningful statement is identical to my rationale in my past blogs for reader's understanding of the realistic US-China relations in the 21st century.
Francis Shieh aka Xie Shihao, an octogenarian student of economics in action on Sunday,May 24,2009 at 8.08 a.m.
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