"It has been carrying the burden of sustaining global growth in the face of European dithering and decay. Its purchase of American debt keeps the federal government there going.
Its appetite for resources remains the rock on which the Australian economy depends.
Yet in Hawaii, US President Barack Obama injected fresh energy into the Trans-Pacific Partnership free-trade zone that includes many of China's main trading partners, but not China.
If it wants to join, China will have to accept the rules laid down by the TPP. And it proved almost a step too far, in domestic political terms, when it copped the liberalisations required by its accession to the World Trade Organisation"...........READ MORE
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