US-China Trade January 18, 2011 Update: President Hu Visits the U.S.
President Hu is coming to Washington D.C. this week, and on both sides of the Atlantic policymakers and others have been vying for the upper hand. On Monday Hu sent written remarks to the Washington Post and Wall Street Journal, and in D.C. Senators vowed to “get tough” for China’s “currency manipulation.”
Associated Press Video: President Hu Arrives in the United States
Hu Jintao’s Yuan-upmanship
guardian.co.uk, January 17
“The remark from the Chinese premier that 'the current international currency system is the product of the past' is widely interpreted as meaning that the era of dollar dominance is coming to an end. Do you agree?”
See also: Excerpts from Hu Jintao interview and Hu Highlights Need for U.S.-China Cooperation, Questions Dollar (below)
Hu says U.S., China Must Work Toward Mutual Trust
The Washington Post, January 17
“Chinese President Hu Jintao, who travels to Washington this week for a state visit after a year marked by disputes and tension with the United States, said the two countries could mutually benefit by finding ‘common ground’ on issues from fighting terrorism and nuclear proliferation to cooperating on clean energy and infrastructure development. Read more
China’s Hu Jintao: Currency System is “Product of Past”
BBC News, January 17
“The remarks to the Washington Post and Wall Street Journal came in the form of written responses to questions. Mr. Hu also reiterated criticism of a decision by the US Federal Reserve to inject $600bn into the economy, which some argue will weaken the dollar at the expense of other countries' exports.” Read more
See also: China's Hu Jintao answers questions with Washington Post and Q&A With Hu Jintao
The Words China Needs to Hear
The Washington Post, January 17
?When Chinese President Hu Jintao visits Washington this week, there will be lots of ruffles and flourishes. Both governments will refer to the ‘positive, cooperative and comprehensive’ relationship they seek to build. There is nothing wrong with positive diplomacy, but President Obama should not shy away from highlighting an area where the United States and China sharply diverge: political values. This is not just a matter of managing U.S. domestic politics but also an issue of long-term strategy as China rises.” Read more
See also: Inaugural Richard C. Holbrooke Lecture on a Broad Vision of U.S.-China Relations in the 21st Century and Hu appeals for 'common ground' with U.S.
Hu Highlights Need for U.S.-China Cooperation, Questions Dollar
The Wall Street Journal, January 17
“Chinese President Hu Jintao emphasized the need for cooperation with the U.S. in areas from new energy to space ahead of his visit to Washington this week, but he called the present U.S. dollar-dominated currency system a "product of the past" and highlighted moves to turn the yuan into a global currency.” Read more
Hu Says U.S. Must Respect China Sovereignty, Rejecting Push for Yuan Gains
Bloomberg, January 16
“Chinese President Hu Jintao said greater cooperation with the U.S. on economic and security issues must include recognition of each nation’s sovereign rights as he rejected American arguments for yuan appreciation.” Read more
China’s Hu Hints at Tough Negotiations with U.S.
Radio Free Europe Radio Liberty, January 17
“Ahead of a state visit to Washington later this week, Chinese President Hu Jintao said his country and the United States have ‘sensitive issues’ and differences that need to be properly managed.” Read more
Hu Proposes 4 Points to Advance China-US Ties
China Daily, January 17
“Chinese President Hu Jintao on Monday proposed four points to further advance China-US ties.” Read more
Hu: China to Firmly Adhere to Opening-Up Policy
China Daily, January 17
“Hu said China had fully honored its commitments by abolishing all domestic laws and regulations incompatible with the World Trade Organization (WTO) rules and giving foreign companies national treatment over the past decade since its accession to the WTO.” Read more
Obama to Honor China’s President with State Dinner
AP, January 17, 10:44 EST
“When Hu Jintao makes what is likely his final trip to Washington as China's president, he will get an honor he desperately wanted but was denied during his first visit nearly five years ago: a White House state dinner.” Read more
China Plans U.S. Television Campaign During Hu’s Visit to Polish its Image
Bloomberg News, January 17, 5:28 AM MT
“China plans to air television commercials in the U.S. during President Hu Jintao’s trip, the first state visit since 2006, to help improve the nation’s image…The commercials, featuring Chinese celebrities including basketball player Yao Ming and astronaut Yang Liwei, will air during Hu’s tour from Jan. 18 to Jan. 21, said Wang Lijun, a spokeswoman for producer Shanghai Lowe & Partners. Hu will visit Washington, where he’ll meet with President Barack Obama and members of the U.S. Congress, before traveling to Chicago.” Read more
Washington Set to Welcome Hu in Grand Style
China Daily, January 17
“Washington's reception for President Hu Jintao's upcoming state visit is under careful preparation, including a morning rehearsal on the South Lawn of the White House, a gesture seen as rare.” Read more
US to seal clean energy deals while Hu visits
Reuters and AFP in Washington, January 16
“One of the things that can be delivered during President Hu Jintao's upcoming visit to the United States will be deals in the energy sector, Washington says.” Read more
Beijing seeks assurance on assets in US
People’s Daily, January 13
“Beijing on Wednesday asked Washington to assure the security of its financial assets in the country, as the United States is likely to further press China to revalue its currency during President Hu Jintao's visit there next week.” Read more
