Obama in China: The Real Story

By far the most significant news from Obama's trip to the Far East came before he got there. Speaking at a conference in Beijing just hours before Air Force One arrived, a top Chinese financial official attacked the Federal Reserve, and, by extension, the rest of the American government for stoking another speculative bubble, which could have disastrous consequences for the global economy.

As the Financial Times reported yesterday, Liu Mingkang, China's top banking regulator, said the Fed's ...