Obama and Hu – moving towards
Published: 22 November, 2009, 09:20
Edited: 23 November, 2009, 11:05
Despite the smiles and glad handing, American President Barack Obama and China's Hu Jintao haven't come up with a panacea to their growing trade deficit. In fact, they achieved something different.










Yes the US better had acknowledge that China is their 'peer'. China is also the main reason that the dollar still has any value. The body language of the US President said it all during the visit - I have never seen Obama look so humble. You could almost here his thoughts - Please China, please keep buying our worthless paper dollar assets, and please don't dump the trillions you already have bought (at least not until we decide to dump it ourselves and write off all our debts). The US is on the way down and China have already the potential to equal them - the Chinese just haven't realised it - or they want us to think they haven't. Either way there are interesting times ahead............