ANNAPOLIS

Maryland - AFP
In a new twist

Chinese officials are now openly rebuking the United States for the world's economic ills - and even dispensing some advice.
From the plummeting U.S. dollar to the American housing market crisis

Beijing has been hinting mismanagement on the part of Washington and cautioning about the dangers of keeping markets too open.
The self-confidence of the Chinese

riding on the crest of rapid economic growth on the back of $1.7 trillion in foreign reserves

was highly evident at the bilateral cabinet-level talks that began in Annapolis

Maryland

east of Washington Tuesday.
"In the past … China always hoped to draw experience from the U.S. to guide its own development

" said Chinese central bank governor Zhou Xiao Chuan. "However

this time

we see something different." He pointed out that reforms and market openings could backfire and that it could also be a lesson.
"China is of course interested in learning from the experience of the United States in macroeconomic regulation and using a market economy

and now we also want to see what lessons we can draw from the experience of the U.S. after the turbulence

" he said.
Zhou reserved harsher criticism for the weakening U.S. dollar

blaming it for driving up the price of oil and other commodities

stoking inflation and dampening the growth of developing countries reeling from exchange rate turmoil.
Last week

Sun Zhenyu

the Chinese ambassador to the World Trade Organization

asked Washington to take action to stabilize the dollar and raised concerns over a "rising sentiment of protectionism" in the United States

saying that it could threaten global trade.