CHINA: Structural deficiencies in its economic model.

CHINA: Structural deficiencies in its economic model and a depleted
manufacturing base, rather than the yuan exchange rate, are the cause of
the U.S. trade deficit, a Chinese government adviser said in comments
published Wednesday. But Xia Bin, an economist with the Development
Research Center and adviser to the influential State Council, downplayed
threats that Beijing will wield its massive holdings of U.S. Treasury
bonds to influence the currency debate, arguing that “China is a
responsible player.”