Ah, sweet revenge. Chinese leaders are offering the US advice on how to run its economy, and a bit of criticism on its performance so far, reports Edward Wong in The New York Times. The Chinese have called America’s concept of economic regulation “warped,” and called on the country to halt the dollar’s decline. America overestimates the power of the market and overlooks the regulatory role of government, said one critic.

He’d probably find a lot of Americans agreeing with him

It’s just been a few years since I was at a SunGard user group meeting in New Orleans where a Chinese banker explained he was implementing Panorama for risk management in part to learn how Americans approached risk management.

Sure seems like a long time ago.

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