To see why and how, start with an overview of China's current growth model.
It expects China's current-account surplus to double in dollar terms between 2010 and 2014.
That turnaround exceeds the increase in China's current-account surplus over the same period.
China's current-account surplus has fallen from 11% to an estimated 6% of GDP.
Companies like it are using China's current patent regime as a launching-pad.
With stimulative fiscal and monetary policy bolstering domestic demand, China's current-account surplus has shrunk by two-thirds, from 10% of GDP in 2007.
Mr King concludes that the biggest problem for China's current exchange-rate policy is not the yuan itself but the performance of the dollar.
America can take some comfort from a narrowing of China's current-account surplus, from 11% of GDP at its peak in 2007 to 6.1% last year.
Few expect China's current account to balance even in the medium term, but the country's surpluses are likely to stop growing so quickly and may even shrink before too long.
ECONOMIST: The flows are neither as big nor as scary as they once seemed
Another way of looking at China's current-account surplus with America is that in exchange for selling lots of cheap shoes and fridges to American consumers, China receives little by way of return except IOUs in the form of American Treasuries.
ECONOMIST: Will China float the yuan, revalue it up a bit, or neither?
Fiscal and monetary stimulus, which jolted domestic demand, has caused China's current-account surplus to narrow dramatically, from 10.1% of GDP in 2007 to a projected 2.9% this year, according to Nomura, a financial services group, which sees it almost disappearing by 2013.
But China's current account was already in surplus when the investment slowdown started, and is rising faster than it did a decade ago, so if and when the effects feed through to consumption, the change in the current account could be much bigger than last time.
The delicate process of freeing up China's capital and current account restrictions to allow the yuan to play a role commensurate with China's industrial power will take time.
According to Goldstein, China's total current account surplus has ballooned from 1% of its gross domestic product in 2001 to 9% in 2006.
Together with Japan's central bank, the People's Bank of China financed half of America's current-account deficit last year.
Some think China should be cautious and not disrupt the current system as China's growing prosperity has been built on trade and interaction with America and the outside world.
More than 85% of applicants to Weatherhead's current Finance master's program came from China, and more than 80% of the 58-student class is Chinese.
China's economy is protected by its current-account surplus and vast reserves, but its banking system would be hurt by an abrupt withdrawal.
An injury to his Achilles tendon not only ended this year's gold medal chances for a man being dubbed China's Michael Jordan, it also hampered his marketability for current and future sponsors.
Click here for Delfeld's latest picks for playing China in the current issue of Chartwell Advisor.
With 27 reactors under construction, more than twice as many as any other country, China accounts for almost half the world's current nuclear build-out and it has plans for 50 more reactors.
If China's economy continues to overheat, its current-account surplus could soon turn to deficit, and then its central bank would no longer need to buy American Treasuries to hold down its currency.
Lu Stout also presents CNN's monthly current events program "On China" and is a regular contributor to "Art of Movement" and CNN's "Leading Women" series on female leadership.
CNN: CNN Profiles - Kristie Lu Stout - Anchor and correspondent
From the current members' perspective, addressing China's views earlier within a G9 rather than later would smooth the implementation of subsequent policies through international bodies such as the U.N. and the IMF.
But Kwok sees many of his company's current Internet initiatives as critical tests of future China plays.
Whatever the scale of the current cyclical investment slowdown, the pace of China's investment is likely to fall over the medium term.
As a result, China's great export powerhouse will keep global inflation low and intensify the current deflationary pressures.
For her work on CNN's "On China, " Kristie Lu Stout was recently awarded Best Current Affairs Presenter, her second Asian Television Award during her 14 years with CNN International.
CNN: CNN Profiles - Kristie Lu Stout - Anchor and correspondent
In a little-noticed comment during the weekend's meetings, Yi Gang, a deputy governor of China's central bank and head of the country's foreign-exchange reserves, said that China aimed to bring its current-account surplus below 4% of GDP within 3-5 years.
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