China and the U.S., Frenemies Forever

Nov. 14 (Bloomberg) -- This week China’s ruling elite appoints new leaders for the next decade. The incoming president, Xi Jinping, and his colleagues face such fearsome challenges that, in their moment of victory, one almost sympathizes. Understanding their difficulties and calibrating U.S. policy accordingly will be among the biggest tests for the new Obama administration. For everybody’s sake, Beijing and Washington both need to do some rethinking.

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