It could undermine many assumptions of four decades of US-led globalisation. So, just as Mr Bush is correct to underline the importance of the strategic status quo, he must also be aware of the dangers to the economic status quo. Liberalising global trends that have done so much for China have also contributed to a US trade problem that cannot be ignored. One way or another, be it through recession, currency devaluation or protectionism, the US trade deficit will be forced down. Mr Bush must stand firm against any attempt to single out China for trade retaliation to right the imbalances, thereby threatening disruption of global trade and China's economic-reform movement, which is based on the supremacy of market economics over gut nationalism.
Economic security is part of strategic security for both countries, and for their Asian partners.
Keep economic relations on an even keel, and the rest will follow. South China Morning Post Publishers Ltd. All rights reserved. Keeping demos out of sight . . .