Wharton dean: China-U.S. economic relationship “much more balanced” than 15 years ago

A two-day Penn Wharton China Summit was held with the theme of “China’s New Normal,” a term referring to China’s transition to slower growth but with higher quality.

Garrett says that current U.S. debates on the economic relations with China focus on the American trade deficit with China and U.S. government debt held by China, which are “the old U.S.-China economic relationship” about 15 years ago and are certainly “out of date.”

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