Foreign Ties

Obama Reaches Out to China

Barack Obama attempted to improve Chinese-American relations on Monday, delivering an address at the beginning of two days of high-level discussions between the countries in Washington. “Some in China think that America will try to contain China’s ambitions; some in America think that there is something to fear in a rising China. I take a different view," the president said. According to the Financial Times, one sticking point in the conversations remains China's desire to "reform the international monetary system." Behind all negotiations is the fact that China is the world's largest holder of U.S. Treasury bonds, which elevates Beijing’s influence over Washington. China's state councilor concluded his remarks Monday with a flourish from the Obama campaign, telling those gathered that the countries are in the same boat and could improve their relationship. Dai added, "Yes we can."