China News Agency quoted an article from the Hong Kong newspaper Ming Pao commenting on the U.S.’ behavior at the First Round of Sino-U.S. Strategic and Economic Dialogue in Washington, DC on July 27 and 28. Ming Pao said that Obama lowered himself to China, demonstrating the U.S.’ flexibility of being soft in exchange for its national interest.
However, how well the Sino-U.S. relationship goes depends on the following three main issues: 1. How much additional speaking power will the U.S. allow China to have in international organizations such as the IMF? 2. Will the U.S. stop the ban on selling advanced technologies to China? 3. When the U.S. economy stabilizes, will it reduce its spending or devalue the dollar to solve its financial problems but cause huge losses to China who owns a large amount of Treasury bonds?
Source: China News Agency, July 29, 2009