The challenges facing China and the United States

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We look at the challenges facing China and the US, which economy will come out on top? In China the challenge for the new administration is how to rebalance the economy, to boost consumer spending so that the economy is not so reliant on government spending and exports. In China, the problem is that people consume too little of what they make. In the US, the problem is the reverse. To explore the challenges facing China and the US, Jonny Dymond in San Francisco talks to Enrico Moretti, professor of economics at the University of California, while Simon Jack in Shanghai talks to professor Xu Bin, professor of economics and finance at the China Europe International Business School. Plus, Shanghai is home to China's banking and financial services industry, and the government hopes this will become one of the world's leading financial centres. Simon Jack joins Andrew Reeve, from Tullet Prebon, on his firm's trading floor in Pudong, Shanghai's financial district.