China, U.S. financial ties evolve
President Bush is on his way to China for his fourth and last visit as president, and a lot has changed since his first trip. Lisa Chow takes a look at how economic relations have evolved between China and the U.S.
Bush begins a tour of Asia -- August 5, 2008 (Chung Sung-Jun/Getty Images)
More on International, Asia
TEXT OF STORY
Stacey Vanek-Smith: China is getting a big boost from the Olympic Games. President Bush is on his way to the country. This will be his fourth and last visit as president, and a lot has changed since his first trip to China. Lisa Chow takes a look at how economic relations have evolved between the two countries.
Lisa Chow: During President Bush's first term, relations with China took a back seat to wars in Afghanistan and Iraq. In the last two years though, analysts say ties with the Chinese got more attention.
China was pressured to more fully comply with World Trade Organization commitments. As a result, American investors got more access to Chinese markets. It also helped to have a new U.S. Treasury Secretary who understood China.
William McCahill is with the research firm JL McGregor:
William McCahill: The arrival of Hank Paulson, who knows the Chinese and has spent a great deal of time here as an investment banker, had relationships. But more important the fact that finally in Washington, you had someone at top levels who cared about the relationship.
But, McCahill says, the two countries need to address broader questions on the environment, energy, and human rights.
In Beijing, I'm Lisa Chow for Marketplace.
Comments
Comment | Refresh
Post a Comment: Please be civil, brief and relevant.
Email addresses are never displayed, but they are required to confirm your comments. All comments are moderated. Marketplace reserves the right to edit any comments on this site and to read them on the air if they are extra-interesting. Please read the Comment Guidelines before posting.
You must be 13 or over to submit information to American Public Media. The information entered into this form will not be used to send unsolicited email and will not be sold to a third party. For more information see Terms and Conditions and Privacy Policy.