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...will be very difficult to make much progress with China if we don't see it more clearly. It has been tempting to look at China's process of reform and think that Deng Xiaoping's famous line "To get rich is glorious" might also mean "To get rich means to help America." This has happened in some areas, not least on Beijing's balance sheet, where to get rich has meant, frankly, to lend to an indebted U.S. But what is playing out with China is an expression of a debate that has been gathering force in Beijing: What...
...mistake we often make in thinking about China is to ask, How does the West accommodate a rising China? This is sort of like asking, How do we fit a big and growing guy into the back of an already full car? It's a question to which any answer suggests expanding discomfort. And in the eyes of many in Beijing, the car isn't running so well anyway. Might it not be better, Chinese wonder, to redesign it? Some of the questions China has started asking about the world system are ones we should be asking too. This...
...ideas like "Bide our time, get something done" and toward what are called the four strengths. China, Hu says, must deploy political influence, economic competitiveness, an attractive image and moral force in diplomacy. In so many words, Hu's strategy suggests, China must use what strength it can to make sure it isn't being done to again. It wouldn't let itself be done to at the climate-change summit in Copenhagen - and it's determined that it won't be done to in currency markets...
...open China will be to flows of money. China has three choices: it can remain unplugged from the global system, it can plug in gradually, or it can say, We're the largest developing country in the world and everyone wants to invest here, so we're going to make our own rules. This is the sort of challenge China will pose in many areas. It'll want to configure the system so it fits its needs - whether in relation to exchange rates, nuclear proliferation, how to handle North Korea or how to ensure that the benefits of information technology...
...follows that any actions by China that threaten global stability have to be rebuked. The habit of trying to make China cooperate only by granting concessions has not worked. Co-evolution suggests a different approach. It acknowledges the importance of giving China a say in how the world develops but demands in exchange an absolute commitment to curtail activities that make it more dangerous. It's a case of saying to China, You're a partner in managing the global economy, but you can't then manipulate your currency to gain unfair trade advantages. Or: We'll respect your interests...