Bloomberg Sees A Strong China As Beneficial

Economic competition between America and China will benefit both countries provided the two sides avoid protectionist and anti-immigration policies, Mayor Bloomberg says.

Speaking at Fudan University in Shanghai yesterday, the mayor praised China and America for their contributions to the global economy, while warning of obstacles to further prosperity.

Citing the large number of foreign-born American winners of the Nobel Prize, the success of entrepreneurs such as the Russian-born founder of Google, Sergey Brin, and the contributions of New York's immigrant population as examples of positive impact on America, he said America must embrace immigration to succeed.

"In the U.S., our challenge is to open our labor markets to more foreign workers," the mayor said. "While in China, it seems the challenge is to open capital markets to more foreign investment — because foreign investment creates the domestic jobs that will help keep educated Chinese men and women from leaving the country." Mr. Bloomberg also called on the two nations to work together on sustainability issues.

"We cannot put the brakes on climate change unless both China and the U.S. join the international community as partners in the effort," the mayor said.