United States and China Pledge to spur the World Economic Growth in Rebalance

On July 28, 2009-- U.S.A and Chinese economic leaders pledged to make up their mind to make efforts to rein in trade and investment imbalances, contributed to the global crisis.
Let us take a back look at the trade between the USA and China in the post few years.
U.S. citizen relied on borrowing to finance their purchases, contributing to an export boom from Asia, which seems to be good news to Asia.

On the other hand, as China and other Asian countries like Japan accumulated dollars from trade surpluses. In fact Lower borrowing costs helped stoke the housing and credit booms that turned to bust in 2007.
The aim of the dialogue between China and the U.S. is to bring about more balanced and sustainable global economic growth after a global recovery is firmly established. Both two sides have confidence to achieve this mission.
Will it take action to win the praise from the world?
TBD
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