By Kevin Hamlin and Mark Drajem
Dec. 29 (Bloomberg) — The global recession is re-exposing fissures in U.S.-China relations that Treasury Secretary Henry Paulson spent more than two years smoothing over.
Hoping Obama lets the world export their brains out to us and sustain domestic demand with fiscal policy.
Heightened tensions between China and the U.S. may worsen a contraction in world trade that already threatens to deepen and prolong the economic downturn. The friction comes as President- elect Barack Obama readies a two-year stimulus package worth as much as $850 billion
Hopefully more than that.
that will require the U.S. to borrow more than ever from China, the largest buyer of Treasury securities.
No sign of this ridiculous rhetoric changing yet.