From Fox News Sunday, Brit Hume tries to blame our situation with China owning our debt on President Obama, and throws in a bit of not-so-subtle racism with his offhand "bow and scrape" remark, just for good measure. It seems Hume has been asleep for the last eight years plus before Obama got elected if he thinks our problems with China just started in January.
Wallace: Let's talk about that point that Anne brings up Brit, because especially in China there was a sense of a diminished U.S. roll in the world. The Chinese were lecturing us when it came to economic policy and basically ignoring the President when it came to human rights.
Hume: Look, the president is in a weaker position than he might have been, not least because his policies have contributed mightily to the immense amount of new borrowing that's being done, much of it from the Chinese. So now you have the Chinese even worried about the size of the health care plan. That is unfortunate. But this president seems quite willing to embrace weakness as a position for the United States. I mean, the bowing and scraping that we see, in Saudi Arabia we saw it. We saw it on this trip in Japan--these kinds of gestures -- they wouldn't mean anything if they didn't seem to be of a piece with the general approach that the president has taken.
I think that he thinks that if he is such a -- he is a nice man, with a magnetic personality, and if he can reason with these people and not try to throw his weight around, that they will respond to him. That's exactly backward. The United States has some weight to throw around and still with the Chinese. They need our market as much as we need their money to borrow. And he's not in as weak a position as he behaves. And I don't think it helps for him to do what he did on this trip and the results bear that out.