Beijing comes under new criticism today for its steadily-rising defense budget. And that's just on the surface. It's accused of an aggressive military build-up: unknown amounts of weapons purchases and research not included in the official budget.
Washington accuses Beijing of keeping the value of its currency artificially low, making imports from China unfairly cheap. China says the U.S. fails to recognize the headway it's making. Ruth Kirchner reports.
China's domestic banking market opened to full foreign competition today, so foreign banks will be able to offer their services in the local currency, the Yuan, for the first time. Ruth Kirchner reports.