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China Is Willing to Narrow Trade Gap With U.S. -- But By Buying America's Best Weapons and Military Technology
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| Contributor | Servo |
| Last Edited | Servo Dec 01, 2004 07:48pm |
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| Category | Analysis |
| News Date | Wednesday, December 1, 2004 06:00:00 AM UTC0:0 |
| Description | In an interview with the Financial Times just before Thanksgiving, Li Ruogu, the deputy governor of the People's Bank of China, warned the U.S. not to blame other countries for its economic difficulties. He was referring to America’s expanding trade deficit, which will top $600 billion this year. He contrasted the apathy of the Bush Administration towards its deteriorating international economic situation with Beijing’s attitude towards trade, “If there is a small deficit, we are not concerned. But certainly we don't want to run into the U.S. situation of having a trade deficit of 6 per cent of GDP,” he said. “That is not sustainable.”
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