On China, trade, etc.

Morgan Stanley guy gives some messages from Chinese Primiere, in particular, some interesting ways that the Chinese are planning (and, in fact, able to plan--i.e. they are in a structural position to be able to focus on local issues, a luxury no longer open to the US) and on exchange rate issues. One quote that you know was made with a great deal of gravitas:

At the end of his discourse, he leaned forward, looked me straight in the eye, and stated with great emphasis, “You can take this message back to the American people: It is unfair to make China a scapegoat for structural problems facing the US economy.”