Three Key Lessons from Obama’s China Tour

President Obama’s trip to China yielded precious little Chinese cooperation on the Administration’s key concerns, ranging from currency issues to Iran. That’s a sign of the shifting balance of power between two countries that have been locked in an uneasy embrace for more than three decades.

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Bernanke warns on imbalance risks with Asia

Ben Bernanke said on Monday that it was “extraordinarily urgent” that the US and Asia adopt policies that prevent a revival of global economic imbalances as the financial crisis ebbs. The Federal Reserve chairman warned that global imbalances — the big gaps between national saving, consumption and investment rates reflected in large trade deficits and surpluses — had helped cause the crisis and needed to be corrected.

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