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By Elliot Feldman
Published: March 30 2010 13:03 | Last updated: March 30 2010 13:03
One of the most troubling features of the growing tension between China and the US is that both countries legitimately have a lot to complain about. It is commonly understood that China and the US have divergent interests. Less understood is that, in the bilateral economic and trade relationship, they usually are complaining about the same things. Both are trying to protect jobs and now seem engaged in a zero-sum game that no one can win. When China and the US criticise each other, each side must realise they are launching their complaints from inside glass houses without regard for their own structural vulnerabilities.
Both China and the US believe the other is attempting to interfere in a free market economy and engage in protectionist practices to the detriment of the other. The US sees too much state direction in the Chinese economy and continues to designate China as a non-market economy, leaving China feeling stigmatised and at an unfair disadvantage in international trade.
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