Rising China – NYT

Writes the New York Times in an article entitled China Races to Replace U.S. as Economic Power in Asia: “As it buys up goods, parts and raw materials from its neighbors as never before, China has accompanied its new heft with diplomatic efforts to assure them that it wants to offer cooperation, not competition. Many have rushed to China’s embrace and are nimbly shifting their economic alliances, particularly as the United States makes its way through only a tentative economic recovery….Mr. Lardy says China’s trade is now growing at a faster rate than Japan’s growth during its boom years in the 1960’s and 1970’s.”

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