The needs of American workers were not adequately addressed during discussions between the Obama administration and Chinese government leadership in late July, said Scott Paul, the executive director of the Alliance for American Manufacturing, in an interview taped July 31 with CNN. more »
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newsweek.com — When the federal government unveiled its "cash for clunkers" program, it was largely derided as the dying auto industry's desperate push to urge Americans to buy new cars. Surprisingly, it worked. Cash for clunkers, formally known as the Car Allowance Rebate System, is one of the few government programs that has pushed Americans to spend money in this tight economy. The program already ran through its allotted $1 billion budget since it took effect a week ago. On Friday, the U.S. House of Representatives voted 316 to 109 to give the program an additional $2 billion. Yet, the demand ultimately may not be enough to save the U.S. auto industry.
Obama's opening speech set the stakes: "The relationship between the United States and China will shape the 21st century, which makes it as important as any bilateral relationship in the world." (emphasis added) The U.S., the world's largest debtor, met this week with the confident leaders of its largest creditor, the communist government of China.