“A US strategy that recognises China’s right to modernise and acknowledges that there are economic costs in the pursuit of worthy national security goals is a reality-based, sustainable starting point for a strategy that is neither a crusade nor a fantasy,” said Posen — who on Saturday hosted China’s central bank chief for an event in Washington. China reaction Another China watcher, Jeremy Mark, a senior fellow at the Atlantic Council, said Beijing’s reaction to the national security points will set the tone for US-China economic ties. “It’ll be interesting to see how China responds to Secretary Yellen’s very clear…