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July 29, 2009
U.S. promises China it will reduce deficit

U.S. President Barack Obama began the week praising the importance of a strong relationship with China.

After two days of high-level talks between U.S. and Chinese officials, no fine details were agreed upon, but the Obama administration has agreed to reduce its deficit once the financial crisis has abated.

Nicholas Lardy of the Peterson Institute for International Economics joins Martin Savidge to discuss the evolvingĀ economic relations between the two countries.

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