China criticises American excess

It looks like China is becoming more assertive in world affairs.

It looks like China is becoming more assertive in world affairs. At the fifth round of the Strategic Economic Dialogue between America and China the Chinese central bank governor, Zhou Xiaochuan, reversed the normal pattern for such things in which America takes another country to task.

According to a report from the AP news agency he blamed American financial excesses for the crisis:

“The important reasons for the US financial crisis include excessive consumption and high leverage,” Zhou said in a speech to the meeting, according to Jin Qi, a central bank official who briefed reporters. “The United States should speed up domestic adjustment, raise its savings rate and reduce its trade and fiscal deficits.”

If America wants China to help bail it out there should be no doubt that the Asian nation will demand a price. Britain too should not expect to get help for free.