In US-China talks, who has the upper hand?

We've seen this movie before, whenever top U.S. and Chinese officials gather. Americans lecture the Chinese about a currency value that unfairly keeps their exports cheap, followed by complaints that Beijing isn't doing enough to prod its people to buy consumer goods. The Chinese counter-lecture Americans on the need to get our own fiscal house in order and our borrowing under control. Then, before getting too contentious, the officials close the session by announcing a few business deals to show that the U.S.-China relationship really isn't that bad after all.

Source: http://money.cnn.com/2011/01/17/news/economy/china_hu_jintao.fortune/index.htm

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