News / Asia

Obama Urges China to Act on Currency

Kent Klein

An aide to U.S. President Barack Obama says the president has warned Chinese Premier Wen Jiabao that his government must do more to ease tensions over the value of China's currency.  

President Obama's top East Asia adviser, Jeff Bader, says economic issues occupied most of the leaders' meeting on the sidelines of the UN General Assembly in New York.

Bader described the tone of Thursday's meeting as candid, and said Mr. Obama talked about the importance of trade issues, and especially the currency issue.

In a meeting with reporters afterward, Bader said the president stressed that the U.S. is expecting more significant movement from China on the value of its currency.

"In the last few weeks, you have seen the president, the administration bring a couple of WTO cases against Chinese practices," said Jeff Bader. "So the president made clear, through that and in his meeting that he will protect US economic interests, and that we look for the Chinese to take actions.  If the Chinese do not take actions, we have other means to protect U.S. interests."

The U.S. says an increase in the value of China's currency would help reduce America's trade deficit with China, which was $145 billion in the first seven months of the year.

The day before meeting with Mr. Obama, Wen said allowing the Chinese currency to increase substantially would cause major turbulence in China.

According to Bader, the Chinese premier stated again Thursday his country's intention to continue reforming its exchange rate mechanism.

Bader said the U.S. had welcomed Chinese announcement last June that they would pursue a more flexible exchange rate policy, but that little action has followed.

"We were disappointed that there had not been much movement since, that this had consequences for the global economy and for the U.S. economy, and we look to see more rapid and significant re-evaluation in the months to come," he said.

On Capitol Hill, a House of Representatives committee is to vote Friday on legislation to allow U.S. officials to impose tariffs on Chinese products entering the United States.

President Obama and Premier Wen left the meeting promising further cooperation on economic and security issues.  They also said they were preparing for Chinese President Hu Jintao to make a state visit to the U.S. in the near future.  

You May Like

EU Court Fines Poland for Hosting CIA 'Black Sites'

Ruling is first time a court has acknowledged suspects were held and tortured at the sites, under US program launched following the 9/11 terrorist attacks More

Migrant Issues Close to Home Spur Groups to Take Action

Groups placing water, food in the desert, or aiding detainees after release, have one common goal: no more deaths of migrants crossing illegally into the US More

Video At AIDS Conference, Prevention Pill Stirs Excitement

Truveda shows promise, spurring debate over access and other approaches More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Treatment for Childhood Epilepsy Heats up Medical Marijuana Debatei
X
Shelley Schlender
July 24, 2014 6:43 PM
In the United States, marijuana is classed as an illegal drug by the federal government. But nearly half the states have legalized it, to some degree. Proponents say some strains of marijuana might have exceptional health benefits, for treating pain or inflammation in chronic conditions such as cancer, multiple sclerosis and epilepsy. Shelley Schlender reports on a strain of medical marijuana developed in Colorado that is reputed to reduce seizures in childhood epilepsy
Video

Video Treatment for Childhood Epilepsy Heats up Medical Marijuana Debate

In the United States, marijuana is classed as an illegal drug by the federal government. But nearly half the states have legalized it, to some degree. Proponents say some strains of marijuana might have exceptional health benefits, for treating pain or inflammation in chronic conditions such as cancer, multiple sclerosis and epilepsy. Shelley Schlender reports on a strain of medical marijuana developed in Colorado that is reputed to reduce seizures in childhood epilepsy
Video

Video Airbus Adds Metal 3D Printed Parts to New Jets

By the end of this year, European aircraft manufacturing consortium Airbus plans to deliver the first of its new, extra-wide-body passenger jets, the A350-XWB. Among other technological innovations, the new plane will also incorporate metal parts made in a 3-D printer. VOA's George Putic has more.
Video

Video Death Toll From Israel-Gaza Conflict Surpasses 700

Gaza officials say a shelling hit a compound housing a United Nations-run school in the Gaza Strip, killing more than a dozen people, during an Israeli offensive in the area. Heavy fighting between the Israeli military and Hamas militants continued on Thursday, pushing up the death toll. So far, more than 730 Palestinians and 35 Israelis have been killed in the conflict. VOA's Scott Bobb has the latest from Jerusalem.
Video

Video AIDS Conference Welcomes Exciting Developments in HIV Treatment, Prevention

Significant strides have been made in recent years toward the treatment and prevention of HIV, the virus that causes AIDS. This year, at the International AIDS Conference, the AIDS community welcomed progress on a new pill that may prevent transmission of the deadly virus. VOA’s Anita Powell reports from Melbourne, Australia.
Video

Video Israel Targets Gaza Supply Tunnels

The Israeli military has launched a ground operation in Gaza to destroy the myriad tunnels that may have been used to smuggle weapons to Hamas. VOA's Zlatica Hoke reports that could mean more hardship for the people of Gaza, who obtain some of their essential supplies through these underground passages
Video

Video Researchers Target Low-Cost Avatar Technology

Scientists at the University of Southern California Institute for Creative Technologies say 3-dimensional representations could revolutionize social media. Elizabeth Lee has more from Los Angeles.
Video

Video IAEA: Iran Turns its Enriched Uranium Into Less Harmful Form

Iran has converted its stockpiles of enriched uranium into a less dangerous form that is more difficult to use for nuclear weapons, according to the United Nations’ Atomic Energy Agency. The move complies with an interim deal reached with Western powers on Iran's nuclear program last year, in exchange for easing of sanctions. Henry Ridgwell reports for VOA from London.
Video

Video In Cambodia, HIV Diagnosis Brings Deadly Shame

Although HIV/AIDS is now a treatable condition, a positive diagnosis is still a life altering experience. In Cambodia, people living with HIV are often disowned by friends, family and the community. This humiliation can be unbearable. We bring you one Cambodian woman’s struggle to overcome a life tragedy and her own HIV positive diagnosis.

AppleAndroid