- Sep 26, 2000
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http://news.yahoo.com/s/ap/20060420/ap_...;_ylu=X3oDMTBiMW04NW9mBHNlYwMlJVRPUCUl
Bush, Hu Make Little Progress on Trade
President Bush and Chinese President Hu Jintao agreed to cooperate more closely on trade and nuclear tensions over Iran and North Korea but failed to break new ground Thursday toward resolving a host of differences.
No breakthroughs had been expected during Hu's first visit to the White House as the president of China.
Bush, sitting in the Oval Office with Hu before a formal luncheon, praised China for previous progress in what is perhaps the major irritant in the relationship ? Beijing's tightly controlled currency.
The United States views the Chinese yuan as undervalued, and Bush said, "We would hope there would be more appreciation" in allowing the currency to rise with market forces.
On Iran, China has resisted the approach favored by the United States and Europe ? pursuing sanctions if Tehran does not comply with demands that it halt uranium enrichment. There appeared to be no movement on that issue.
Hu, aware of the growing U.S. impatience with America's record $202 billion trade deficit with China, offered general promises to address the yawning gap
China is getting what it wants. The wholesale movement of US manufacturing to China. And Bush is getting what he wants. Cheap imports to cover up the loss of American earning power and Chinese loan money to give mostly to the wealthy of the US.
Its a match made in h*ll for the US.
Bush, Hu Make Little Progress on Trade
President Bush and Chinese President Hu Jintao agreed to cooperate more closely on trade and nuclear tensions over Iran and North Korea but failed to break new ground Thursday toward resolving a host of differences.
No breakthroughs had been expected during Hu's first visit to the White House as the president of China.
Bush, sitting in the Oval Office with Hu before a formal luncheon, praised China for previous progress in what is perhaps the major irritant in the relationship ? Beijing's tightly controlled currency.
The United States views the Chinese yuan as undervalued, and Bush said, "We would hope there would be more appreciation" in allowing the currency to rise with market forces.
On Iran, China has resisted the approach favored by the United States and Europe ? pursuing sanctions if Tehran does not comply with demands that it halt uranium enrichment. There appeared to be no movement on that issue.
Hu, aware of the growing U.S. impatience with America's record $202 billion trade deficit with China, offered general promises to address the yawning gap
China is getting what it wants. The wholesale movement of US manufacturing to China. And Bush is getting what he wants. Cheap imports to cover up the loss of American earning power and Chinese loan money to give mostly to the wealthy of the US.
Its a match made in h*ll for the US.
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