Chinese President Visit to US

Discussion in 'China' started by kickok1975, Jan 19, 2011.

  1. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    "Hu arrived US, VP Biden welcome at airport"

    Why they look so serious?

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    WASHINGTON (Reuters) – Chinese President Hu Jintao arrived in the United States on Tuesday for a four-day state visit peppered by U.S. complaints about Beijing's currency policies but sweetened by a series of business deals.

    The White House weighed in on the dispute over the level of the yuan hours before Hu flew in, urging China to take more steps to allow its currency to strengthen.

    "We believe that more must be done. That is an opinion that is held not just by this country but by many countries around the world," White House spokesman Robert Gibbs said.

    Hu said earlier this week he would not accept U.S. arguments that the yuan was undervalued -- an opening volley in a disagreement that is expected to dominate this week's trip.

    Analysts are calling the visit the most important by a Chinese leader since Deng Xiaoping helped open bilateral ties 30 years ago, given China's growing military and diplomatic influence and its emergence as the world's second-largest economy after the United States.

    "The purpose of my visit is to enhance mutual trust, promote friendship, deepen cooperation and move forward the positive, cooperative and comprehensive China-U.S. relationship for the 21st century," Hu said in an arrival statement.
    Tensions over trade will feature prominently in Wednesday's summit between Hu and President Barack Obama. A host of other thorny issues, from rebalancing the global economy to dealing with North Korea, will round out the agenda.

    BUSINESS AND POLITICS
    In a show of China's purchasing power designed to dispel perceptions that trade is a lopsided, job-killing affair for the United States, Hu was preceded by Chinese executives who signed more than $8 billion in deals with U.S. firms.

    The U.S. Energy Department said Alcoa Inc and China Power Investment Corp signed an agreement to collaborate on a range of aluminum and clean energy projects representing $7.5 billion in potential investment within China and abroad.
    With cooperation in the clean energy field a priority for both governments, General Electric Co agreed with China Huadian Corp to supply about 50 gas turbines, which will generate some $500 million in revenue over the next five years.

    A 120-member Chinese delegation in Houston signed two cotton import agreements with six companies that China's Xinhua news agency reported were worth $600 million.
    At least 25 more deals are expected on the Chicago leg of Hu's trip on Friday, city officials said.

    Details of the transactions were not entirely clear and one U.S. industry official said a final tally of deals might depend on whether the Chinese see the summit with Obama as a success.

    "There's always a huge political agenda surrounding the business issues. In this case, human rights and everything else," said the official.

    CURRENCY ON CENTER STAGE
    The summit has galvanized Chinese human rights groups -- as well as the Tibetan, Taiwanese and Uighur communities and the banned Falun Gong sect -- that are airing grievances against Hu's government and urging Obama to speak out on human rights.
    Pressed on how forceful Obama would be with Hu, Gibbs said: "I think the president will be firm ... in outlining the important beliefs of this administration and this country."
    But currency concerns took center stage in Washington.

    Senators Sherrod Brown, a Democrat, and Olympia Snowe, a Republican, sent a letter to Treasury Secretary Timothy Geithner promising to introduce legislation to "address China's unlawful practice of currency manipulation."
    "China's actions to subsidize its exports through currency manipulation pose both immediate and long-term challenges to American manufacturers and workers still recovering from the economic recession," they wrote.
    Their letter came after a group of senators said on Monday the United States had to pass legislation to punish China if it fails to allow its currency to rise in value.
    Geithner said pressure by U.S. lawmakers helped hammer home the point about Beijing's currency policies.

    "I actually think it's helpful for China to understand this is a big issue for Americans, just like it's a big issue for all of China's trading partners," he told National Public Radio.
    The Congressional Steel Caucus of lawmakers from steel-making states urged Obama to tell Hu that "American patience for its unfair and illegal trade practices, and its exploitative and anti-competitive policies, has run out."

    "There's increasing frustration, particularly on the exchange rate issue, with the pace at which the Chinese have advanced," Steven Dunaway, an international economics expert at the Council on Foreign Relations, told reporters.

    China's Foreign Ministry said it hoped U.S. lawmakers would not sour the tone of Hu's visit, repeating that Beijing was committed to reforming its exchange rate system.
    "A great many factors have proven that the renminbi's (yuan's) exchange rate policy is not the main cause of the China-U.S. trade imbalance," said ministry spokesman Hong Lei. "We hope relevant U.S. lawmakers ... avoid harming the overall interests of China-U.S. economic and trade cooperation."

    CHINA'S RISE PROMPTS FEARS
    Investors will watch for signs that Hu and Obama can ease tensions after a rocky 2010 but many analysts caution not to expect too much beyond friendly words and business deals.

    Tensions over currency were a big factor in relations last year. The yuan has risen nearly 3.5 percent against the dollar since Beijing ended its peg to the dollar in June, much less than demanded by critics in the United States.

    Hu, in a written interview with The Washington Post and The Wall Street Journal, said China had taken steps toward a more flexible exchange rate policy.
    China also says the United States should do more to rebalance the trade relationship. Beijing's statistics show a surplus in China's favor of $181 billion last year but, by Washington's reckoning, the U.S. deficit with China totaled $252 billion during the first 11 months of 2010.

    China has tried to polish its image in the United States, running an advertisement on large billboards featuring basketball star Yao Ming in New York's Times Square.
    Zheng Bijian, a Chinese government adviser, said he was concerned about U.S. fears about China's rise.

    "If these doubts and assumptions become mainstream opinion, and even form part of national strategic judgments, then this will not only create grave misjudgments about China's direction of development, it will also seriously damage the United States' own interests and shared Sino-U.S. interests," he said.
     
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  3. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    Now they start smiling at each other

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    Last edited: Jan 19, 2011
  4. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    Hu is hugging "little Obama"

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    This is going to be a tough visit, let's wait to see

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    Last edited: Jan 19, 2011
  5. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    US/China comparison, 2009 figure

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  6. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    One is world only super power

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  7. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    One is an emerging giant

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  8. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    Their relationship is vital to world peace

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  9. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    Obama, Hu went to private dinner

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  10. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    China US reach 45 Billion USD in trade export
    WASHINGTON (Reuters) - The United States and China reached agreement on export deals worth $45 billion, a senior U.S. official said on Wednesday at the formal start of Chinese President Hu Jintao's state visit.

    The agreements included China's final approval of a $19 billion contract to buy 200 Boeing (NYSE:BA - News) aircraft for delivery between 2011 and 2013, which U.S. officials estimated would support 100,000 American jobs.

    Other deals involved Honeywell (NYSE:HON - News), Caterpillar (NYSE:CAT - News) and Westinghouse Electric, a unit of Japan's Toshiba Corp (Tokyo:6502.T - News).
    Chinese officials told the Obama administration that Chinese companies had signed 70 contracts worth $25 billion in U.S. exports from 12 states, U.S. officials said.
    Altogether, the Boeing and other deals will support an estimated 235,000 American jobs, they said.

    The deals appeared at least partly intended to answer U.S. criticism that China does not play by the rules as it amasses economic power and uses a number of policies to maintain a large trade surplus with the United States.

    Although China is one of the fastest-growing export markets for the United States, that is overshadowed by imports from China which reached an estimated $370 billion in 2010.
    The U.S. trade deficit with China was an estimated $275 billion last year, which would be a new record.

    The senior U.S. official, who briefed reporters on condition of anonymity, said there was also progress on several key areas on trade, including intellectual property, indigenous innovation and government procurement.

    The $19 billion order for Boeing would be larger than a $15.6 billion deal for Airbus (Paris:EAD.PA - News) to sell 180 planes to Indian budget carrier IndiGo. That deal, announced on January 11, was touted as the biggest jet order in aviation history.
    "So they've trumped Airbus," said Alex Hamilton, managing director of EarlyBirdCapital.
    "Obviously there is a huge pent-up demand in China ... This order highlights not only that but it also highlights the health of the overall cycle on the heels of the Airbus order."
     
  11. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    Obama, Hu spar over human rights, hail econ ties

    WASHINGTON – President Barack Obama and Chinese President Hu Jintao sparred over human rights on Wednesday, with Obama declaring that Americans believe such rights are among "core views" and Hu declaring China had made progress but "a lot still needs to be done" to improve his country's record.
    The concern over human rights was balanced against U.S. happiness about what Obama said was $45 billion in expected new export sales for the U.S. because of business deals with China cemented by the summit meeting of the world's two largest economies. Obama said those deals would help create 235,000 U.S. jobs.
    "I absolutely believe China's peaceful rise is good for the world, and it's good for America," Obama said, addressing a major concern in Beijing that the United States wants to see China's growth constrained.
    [ For complete coverage of politics and policy, go to Yahoo! Politics ]

    "We welcome China's rights. We just want to make sure that (its) rise occurs in a way that reinforces international norms, international rules, and enhances security and peace as opposed to it being a source of conflict either in the region or around the world."
    The two leaders vowed closer cooperation on critical issues ranging from increasing trade to fighting terrorism. But they also stood fast on differences, especially over human rights.
    Obama acknowledged that differences on rights were "an occasional source of tension between our two governments."
    He said at a joint news conference with Hu at the White House, "We have some core views as Americans about the universality of certain rights: freedom of speech, freedom of religion, freedom of assembly."
    Obama said he drove that home forcefully in his discussions with the Chinese leader, but "that doesn't prevent us from cooperating in these other critical areas."
    For Hu's part, he at first didn't respond to an American reporter's question on human rights differences between the two countries. Pressed about it in a later question, he said technical difficulties in translation had prevented him from hearing the question.
    Hu said that each of his meetings with Obama — eight including Wednesday's — the rights issue had been raised.
    "China is always committed to the protection and promotion of human rights," Hu said.
    He said that China had "made enormous progress" in its practices.
    "China recognizes and also respects the universality of human rights," he said. "It recognizes and also respects the universality of human rights. At the same time, we need to take into account the different national circumstances. China is a developing country with a huge population, and also a developing country in a crucial stage of reform."
    China "faces many challenges in social and economic development. A lot still needs to be done in China on human rights," the Chinese president and Communist Party leader said.
    He said that while China "is willing to engage in dialogue" with the U.S. and other nations on human rights issues, countries must exercise "the principle of noninterference in each other's internal affairs."
    On another contentious issue, Obama said that the United States continues to believe that China's currency is undervalued, making Chinese imports cheaper in the United States and other countries and U.S. goods more expensive in China.
    "I told President Hu that we welcomed China's increasing the flexibility of its currency," Obama said. But, he added, the yuan, also called the renminbi, "remains undervalued, that there needs to be further adjustment in the exchange rate, and that this can be a powerful tool for China boosting domestic demand and lessening the inflationary pressures in their economy."
    In a sign of the growing economic bonds between the two superpowers, Obama said the countries had made business deals that would mean $45 billion in new U.S. exports. Obama also said China was taking significant steps to curtail the theft of intellectual property and expand U.S. investment.
    Obama said China had become "one of the top markets for American exports" and that these exports have helped to support a half million U.S. jobs.
    Hu said he and Obama had agreed to "share expanding common interests."
    "We both agreed to further push forward the positive cooperative and comprehensive China-U.S. relationship and commit to work together to build a China-U.S. cooperative partnership based on mutual respect and mutual benefit, so as to better benefit people in our own countries and the world over," Hu said.
    Hu, speaking through a translator, said both countries should "respect each other's sovereignty, territorial integrity and development interests."
    Obama said, "I absolutely believe China's peaceful rise is good for the world, and it's good for America."
    As both countries continue to recover from the global economic crisis — a recovery that began in China well before it did in the U.S. and other developed nations — the United States increasingly sees China as a market for its goods, Obama said.
    "We want to sell you all kinds of stuff," Obama told Hu. "We want to sell you planes, we want to sell you cars, we want to sell you software. ...
    "And as President Hu and his government refocuses the economy on expanding domestic demand, that offers opportunity for U.S. businesses that ultimately translates into jobs."
     
  12. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    Hu in White house ceremony
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  13. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    Hu and Obama are shaking hands with Americans

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    Looks like American are still love Obama very much
     
  14. Armand2REP

    Armand2REP CHINI EXPERT Veteran Member

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    I was watching an ABC report on this and they called China a "Super Power." I about fell out of my seat laughing.
     
  15. cw2005

    cw2005 Regular Member

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    American is desperately in need of an opponent, real or imaginary. It is very lonely when you get to the top. Nevertheless, China has repeatedly announced it is a developing nation even in this visit, and refuses to admit the Super Power status. But America just won't let it go.
     
  16. redragon

    redragon Regular Member

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    The first time ever, Armand, I totally agree with you. the world should really stop putting so much burden on China, a third world country. France should do more in everything together with US and India.
     
  17. nimo_cn

    nimo_cn Senior Member Senior Member

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    The tree craves calm, but the wind will not subside.
     
  18. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    Wife of US joint military chief Mike Mullen in welcoming Chinese President HU

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    What the hell? Standing too long?

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  19. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    I have serious doubt Armand is a Franch. Let's not take France into our discussion.
     
  20. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    Dear First Lady, once I thought you are lack of enchantment. I guess I'm wrong.

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  21. kickok1975

    kickok1975 Stars and Ambassadors Stars and Ambassadors

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    What! This state dinner cost taxpaer 50 million? That's outrageous!

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