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“Chinese leaders give the impression that the U.S.A. has much more to seek from them than they from Washington…. This time, the Americans were on the defensive as they sought Beijing’s cooperation on a range of issues—climate change, North Korea, Iran, Afghanistan, and others—ensuring that the U.S.A. did not seek conflict.” — Yogesh Gupta, former Indian diplomat and specialist on China-India relations, Hong Kong’s South China Morning Post , July 27, 2021.
In fact, the Chinese are not that essential, and American leaders do not have to listen to them. Take their economy. Last year, China became even more dependent on exports, and it remains extraordinarily reliant on access to the U.S. market. In 2020, China’s merchandise trade surplus with the U.S. accounted for a stunning 58.0% of its overall merchandise trade surplus.
Moreover, China’s financial markets have become even more dependent on foreign capital because of […]
Read the rest of this story here: www.gatestoneinstitute.org
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