China-U.S. trade tensions are mounting. The two presidential candidates are falling over themselves to bash China. GOP nominee Mitt Romney routinely chastises President Obama for being soft on China, and promises that, if elected, he will deem China a currency manipulator. President Obama is using more than his bully pulpit to express anger at China. This week, his administration filed a case with the World Trade Organization seeking to limit imports of car parts from China. China is returning the lack of affection. Secretary of State Hillary Clinton was snubbed by heir-apparent Xi Jinping on her recent visit. And on Tuesday, protesters surrounded the car of U.S. Ambassador Gary Locke.
But a funny thing has been happening as economic tensions between the two countries rise: the financial ties that bind them are getting thicker and stronger.
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