A week after President Obama decided to slap a 35 percent tariff on imported Chinese tires, China's refusal to respond in kind has prompted BusinessWeek's Frederik Balfour
to wonder whether Chinese President Hu Jintao is "less protectionist than Obama."
Chinese President Hu Jintao can afford to take the moral high ground on
protectionism when he sits down with President Barack Obama on the
sidelines of the U.N. General Assembly in New York today. Instead of
responding with a tit-for-tat action ... Beijing
merely launched an “investigation” of possible trade violations over
chickens and auto parts with the W.T.O.
While Balfour warns that Beijing could still choose to retaliate--by, for instance, slowing its purchase of U.S. Treasury bonds--he argues that the U.S. and China should focus instead on
re-balancing their economies.
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