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Bush trip to Beijing: Unproductive

Bush trip to Beijing: Unproductive

Bush wrapped up his 40-hour visit to China today with no breakthrough on key issues with the Chinese leadership, but was able to squeeze in a bike ride after a quick prayer session at the Gangwashi Church. Probably the most progress made during Bush’s trip was on the issue of China’s mammoth $200 billion annual trade surplus, which dwarfs the Japan trade surplus of the late 80s -- Bush was able to coax out of Hu the commitment to "unswervingly press ahead" to ease the trade tension. China did, however, commit to buy $4 billion in Boeing airplanes, but reports are that announcement was premature and the Chinese will still want to negotiate on the price of each plane and the contract. Meanwhile, China’s massive collection of US Treasury Bonds, rampant US government spending coupled with mounting debt, and the domestication of the dog, continued unabated. more ›

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