American trade and budget deficits have grown worse and Treasury Secretary Henry Paulson Jr., with President Hu Jintao of China, has not been able to allay the problem.Credit...Pool photo by Goh Chai Hin “Usually it’s the rich country lending to the poor. This time, it’s the poor country lending to the rich.” � Niall Ferguson WASHINGTON � In March 2005, a low-key Princeton economist who had become
![Chinese Savings Helped Inflate American Bubble (Published 2008)](https://cdn-ak-scissors.b.st-hatena.com/image/square/801728a0affb7287a6190b98916c9208293c2883/height=288;version=1;width=512/https%3A%2F%2Fstatic01.nyt.com%2Fimages%2F2008%2F12%2F26%2Fworld%2F26addiction.600.1.jpg%3Fyear%3D2008%26h%3D330%26w%3D600%26s%3D3e05af06ebc1f716261abb81407e8b16ad62fa9dc91e0703cddf290cf8681dea%26k%3DZQJBKqZ0VN)