I really am not commenting on Snow's statement, but here are some things to consider. The US is an 11 trillion dollar economy. Grow 3% and that's a growth in real dollars of 330 billion.
China is about a 1 trillion dollar economy. Grow at 10% and that's a growth in real dollars of 100 billion.
If you get a raise, that in real dollars is 3 times that of your neighbors you can by extension buy more from them than they buys from you. After all, what's one likely thing to occur when you get a raise? Your expendatures will rise. If your neighbor's income stays flat or rises little, how much extra are they going to buy from you? Do you think that an account balance of dollars will remain even between you and all your neighbors if you have extra money and choses to spend it?
Actually the proper analogy would not a raise to finance your increased expenditures, but by trading away assets. Sell off 6% of your house to finance your expenditures, after all your house will rise in value so that your equity will grow, you were able to enjoy greater consumption and have an increasing net worth. You were able enjoy a free lunch.