The incumbent superpower has blinked in its confrontation with the rising one: the US Treasury has decided to postpone a report due by April 15 on whether China is an exchange-rate manipulator. Since a programme of multilateral and bilateral consultations is under way, it was right to give these discussions a chance before taking any action.
在與正在崛起的強國的對峙中，現今的超級大國首先眨眼：美國財政部決定，推遲原定于4月15日發布的有關中國是否是匯率操縱國的報告。鑒于兩國已啟動了多邊和雙邊磋商計劃，在采取任何行動前給這些討論一個機會是對的。
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