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U.S. needs to rethink how to partner China (2)

By Liu Jie (Xinhua)

16:20, October 23, 2012

Bashing China is a much easier and more convenient foil to score political gains.

The presidential debate, unsurprisingly, has fallen into a vanity fair for China-bashers who compete to denigrate China, which in fact has little to do with China but everything to do with the losing competitiveness of the world's superpower.

Both candidates vowed to "make China feel pressured to play by rules." But they should know that rules have never been built upon pressure, but candid talks and concessions taking mutual benefits into account.

Rules are not only important to America, but also to China itself. Even Obama himself acknowledges China's changes in exchange rates, that the yuan has appreciated by at least 31 percent since 2005, and U.S. exports to China have doubled during his tenure.

A more balanced currency regime not only serves to balance trade, but also helps restructure and update China's exports, a development that is in the interests of the Asian nation.

While amending its behavior, China needs to stick to its own course and will not surrender to its bottom line. Appreciation by more than one third has generated positive results both in China and the United States. However, going further down that path will run counter to China's fundamental economic interests, a movement which will be blocked by the Chinese government and Chinese people without hesitation.

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