The United States and China have both beefed up their naval presence in Southeast Asia, leading to fears of a military confrontation. This is just one example of China flexing its military muscle in recent months, and it coincides with a slowdown in the nation's economy.
Judy WoodruffWe haven't learned to be the majority party. We haven't learned how to lead. We're still stuck in the opposition.
Judy WoodruffA dramatic unwinding of that relationship [between USA and China], by way of an aggressive trade policy, is one of the nightmare scenarios for the global economy as a whole, because it would result in a spiraling depreciation of the dollar, a surge in American interests rates, a collapse in the market for American government debt.
Judy Woodruff