During Monday night’s presidential debate, the candidates beat their breasts vying to be tougher on China. Barack Obama pointed to his accomplishments, while Mitt Romney attacked the president for being afraid to label China a currency manipulator. The amount of time devoted to America’s largest creditor and potential enemy shows that managing the relationship with China is critical for whoever sits in the Oval Office.

Thousands miles away across the Pacific, China, also facing leadership change, is largely indifferent to the debate, at least on the surface. The Chinese official media have been mocking the candidates’ stances on China and suggesting their audience shouldn’t take the anti-China talk seriously. Even Chinese dissidents are not impressed. Everyone understands that what is said before November 7 is just campaign rhetoric.