Former US president Barack Obama has said he would have pushed China “much harder” on trade issues if it was not for the global financial crisis of 2008-09.
China’s role in the global economic recovery from the crisis, caused in large part by defaults on subprime mortgages in the United States, “hamstrung” his ability to tackle China’s “mercantilist policies that violated international trade rules”, Obama said in remarks made to the The Atlantic, which expanded on similar themes in his new book, A Promised Land.
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