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Bush Says China Needs to Explain Trade Imbalance


President Bush has called on Chinese President Hu Jintao to explain to the American people how China will rectify the current global trade imbalance.

White House spokesman Scott McClellan told reporters that the president made the comment as he met with Chinese Vice Premier Wu Yi on trade issues Wednesday in Washington.

McClellan says the president told the vice premier he is looking forward to meeting with the Mr. Hu next week at the White House. Among other issues, the two are scheduled to discuss trade policy, including China's foreign exchange policy.

The U.S. government has charged that China keeps its currency, the yuan, artificially low. The practice makes Chinese products inexpensive in U.S. markets and makes U.S. products costly in China.

The U.S. government has been urging China to take steps to reduce a soaring trade gap between the countries.

Wu is traveling with a delegation of 200 Chinese business executives with the expectation that they will sign contracts to buy more than $16 billion in U.S. products.

Some information for this report was provided by Reuters.
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