China and the United States -- The need for joint reform programs

There was a good discussion on trade imbalance between China and the United States, hosted by Betty Liu of Bloomberg Television, with comments by Nouriel Roubini of New York University and Richard McGregor of the Financial Times. It starts with excerpts from a recent debate of Republican candidates. I found Jon Huntsman's position to be better than that of Mitt Romney, not surprising that the former Ambassador to China understands the problem better than the former governor of Massachusetts. It is perhaps surprising to see Huntsman provide a nuanced view when faced by the view articulated by Romney which would appear more likely to draw Republican core votes.

Roubini provides a very clear and articulate statement of the problems, recognizing that there will be a long process needed to create the structural reforms in both countries needed to redress the trade imbalance.