SHANGHAI : The United States is"turning to China for help" to cool inflation by releasing some of its oil reserves, the state-backed Global Times said in an editorial on Wednesday, adding that the move will benefit everyone but China"has the upper hand."
China's state reserve bureau later said it is working on a release of crude oil reserves but declined to comment on the U.S. request. "As a result, the Biden administration will have to turn to China again. This is a direction that benefits everyone, but China clearly has the upper hand."
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