U.S. And China: Time For A Real Partnership

China and the U.S. need each other more than ever

Ever since China opened its doors in 1972, it has played a skillful game. With its huge potential market, it could draw billions of dollars of investment from the West strictly on its own terms. And while Japan bankrolled Asia's boom, China handsomely benefited and devalued its currency when it needed to boost exports. Politically, it played the bad boy--supplying arms to unstable regimes in the Middle East, occasionally flexing its military muscle. It was exasperating to deal with China, but as long as Asia boomed and remained stable, Beijing got away with its antics.

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