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Obama criticises China over currency
The US President Barack Obama has criticised China for not allowing its currency, the yuan, to rise in value. The comment was made at the end of the APEC Asia-Pacific regional summit in Hawaii.
The issue has been a sore point between the United States and China for several years.
Reporter
Jon Bithrey
President Barack Obama
President Obama strongly criticised China.
Report
President Obama's comments criticising China are amongst his strongest to date. In general the US government has preferred to make its feelings known behind closed doors, cautious about upsetting one of its biggest trading partners.
During a news conference, Mr Obama said many economists1 believed the yuan was undervalued by between 20 and 25%, making exports to China from the US much more expensive and imports much cheaper.
He said China had to operate by the same rules as everyone. Earlier China's foreign ministry2 issued a statement saying President Obama was told by his counterpart, Hu Jintao, that the problems in the American economy wouldn't be solved by an appreciation3 of the yuan.
President Obama is certainly under pressure on the domestic front. With the American economy still flagging, calls from politicians are mounting for tougher measures to be taken to force China to change its stance.
And with President Obama entering an election year, he may feel now is the time to raise the rhetoric4.
John Bithrey, BBC News
1 economists | |
n.经济学家,经济专家( economist的名词复数 ) | |
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2 ministry | |
n.(政府的)部;牧师 | |
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3 appreciation | |
n.评价;欣赏;感谢;领会,理解;价格上涨 | |
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4 rhetoric | |
n.修辞学,浮夸之言语 | |
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