Yet despite the goodwill generated by the trip, there is one sharp difference that festers between the two – and that is the value of the Yuan. Many in America feel that the Yuan is not only undervalued, but has created a huge trade deficit, setting in motion the current global financial crisis and threatening to prolong the current U.S. recession. Continue reading »
Officials from both China and the U.S. have lauded Obama’s recent trip to China as a great success. While some have criticized the trip for producing little in terms of specifics, one should not casually dismiss the achievements actually made (see U.S.-China Joint Statement). In so many ways, the relationship between U.S. and China has never been closer.