Friday, April 21, 2006

US, China Fail to Bridge Trade Gap

George Bush, the US president, on Thursday failed to win a commitment from his visiting Chinese counterpart on immediate steps to reduce China's $202 billion trade surplus with the United States. Hu Jintao did give Bush a general assurance that he was working to make the Chinese currency more "flexible" but this fell far short of US demands for a dramatic revaluation of the yuan as a way to make US products more competitive in Chinese and global markets and reduce the trade imbalance.
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By Anonymous Anonymous, at 12:46 PM  

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