A clause in a sweeping economic stimulus package would undermine the country’s foreign policy and threaten the relations with other countries, especially with China, according to economists and scholars.

The main purpose of the ‘Buy American’ clause in a bill that President Barack Obama made law on Tuesday is to release $787 billion to rescue the US economy. The stimulus law says US iron and steel would be used for government projects.

It also states that the ‘Buy American’ provision be applied reducing US responsibilities without international agreements, and this Read more…

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China, crisis, economy, law, policy, purpose, relations, U.S.

The two most populous countries in the world should have a “farsighted, strategic and long-term perspective” in their joint effort to get over the global financial crisis, President Hu Jintao told Indian Prime Minister Manmohan Singh last Saturday.

Hu said that developing good-neighbourly relations has been a consistent policy of the Chinese government since China and India are major developing nations on the sidelines of the 7th Asia-Europe Meeting (ASEM).

The two countries should Read more…

Popularity: 6% [?]

China, farsighted, India, populous, relations