In a move to placate the US complaint about China’s trade surplus, expected to be US$200 billion this year, Beijing has ordered 70 Boeing 737 jets worth US$4 billions to coincide with President Bush’s visit to China. That will give Bush mucho ‘face’ and lessen the pressure for China to monkey around with its currency issue.
China has also taken an option for another 80 Boeing jetliner, which undoubtedly will set champagne popping in Seattle.
A couple of years ago, I read a Boeing Company’s forecast which predicts China buying over the next 20 years some 2,400 jetliners. What a scrumptious picture!
That’s why American business are at odds with the Christian Right (and pro-Taiwan lobbies) over US relationship with China. The former wants a cordial relationship based on trade while the latter wants to sermonise to China about religious freedom and an independent Taiwan. The President has a hard time trying to please both sides.
And of course China will tweak and tune affairs to its favour by judicious and enticing purchases of American goods.