A Chinese Perspective on the US Debt

US public is paying the price

By Liu Weidong (China Daily)

 

The US debt crisis has drawn much criticism both at home and aboard. It is inconceivable to many people that as the only superpower in the world the US was locked in a struggle that threatened to bring the wheels of state to a halt had the politicians not arrived at a last-minute compromise to raise the nation's debt limit in order to avoid a debt default.
As a country that always boasts it has the most "perfect" democratic system in the world, the US is not doing well in its domestic affairs and the debt crisis has exposed the defects rather than the advantages of its system. Even many US citizens have appealed for introspection and reform of the country's political system.

APEC 2011 in Hawaii

 President of Peking University Xu Zhihong
and Peking University Professor Don Eads

 APEC 2011 IN HAWAII

This is a tremendous opportunity for not just Hawaii but all of America to engage in the issues of trade, deficits, and working agreements to enhance cooperation and increase trust, especially between the US and China. 

 

US VP Biden to visit China, Japan, Mongolia

WASHINGTON- US Vice President Joe Biden will start his visits to China, Mongolia and Japan on August 16, the White House said on Thursday.
The White House said that Biden visits China at the invitation of his Chinese counterpart Xi Jinping, the first of the planned reciprocal visits between the vice presidents announced during Chinese President Hu Jintao's state visit to the United States in January.
"While in China, the vice president will meet with Vice President Xi and other Chinese leaders, including President Hu and Premier Wen Jiabao, to consult on a broad range of bilateral, regional and global issues," the White House said in a statement.