Sunday, January 16, 2011

Hu Jintao prepares to meet with Obama "weigh the issues and differences"

NEW YORK - "On the relations between us and the United States weigh sensitive issues and differences." Chinese President Hu Jintao does not hide the problems on the eve of his visit to Washington scheduled for Jan. 18, in a rare interview with the Washington Post and the Wall Street Journal said he believes that the international monetary system based on the dollar is "a product of the past.

" At the same time convinced that today the dollar "should be maintained at a reasonable level and stable," and is "a long process right" that the Chinese currency will lead to assert itself at international level. On the relationship between China and the U.S. weigh several "sensitive issues and differences," said the Chinese president.

"Both sides should keep cool in the development of their relations, increase exchanges, enhance mutual trust and look for common ground despite their differences, dealing with problems and help develop long-term, healthy and steady relationship Sino-American "Hu said in interviews. The list of differences between the two countries is the weakness of the yuan (underestimated by Beijing, according to Washington), the trade wars, the sale of American weapons to Taiwan, the visits of the Dalai Lama, the Nobel Prize for Peace to the dissident Chinese Liu Xiaobo, the freedom of information, North Korea or rivalry in the areas of the Pacific.

What will take place in Washington is not in fact a routine appointment. Although the two leaders have already seen seven times in just two years, this is the first time that the White House attaches to the status of Hu's trip a state visit. During the presidency Obama only leaders of India and Mexico have received this honor.

The visit includes a gala dinner in a tuxedo and a tribute to the Chinese president of the 21 gun salutes. A reception that George W. Bush reserved the April 20, 2006. Obama knows that the Chinese pay special attention to the shape and will do anything to propitiate the success of the visit.

The official meetings will be followed by a joint press conference at the end of the morning. After a lunch between Hu and Vice President Biden at the State Department, on the evening of Wednesday, is expected to the official reception, Thursday, 20 followed by a visit of Chinese President on Capitol Hill.

In the days following the announcement of Hu's visit there have been signs designed to reassure Washington on some sensitive issues. As the 'close' on copyright compliance announced by the Chinese authorities, who are threatening to jail for up to three years who will be selling online movie, music or other products covered by copyright illegally copied.

In a move that aims to reassure Hollywood as the Silicon Valley, but that will hardly assuage America's obsession with seeing their jobs flee overseas and do not know how to turn the tide of history. As emphasized Vice Minister Cui Tiankai, today is a fact that China is a market economy, a fact that can not be denied even if not recognized.

" For this reason, Cui concluded, "we expect the U.S. to speed up this award, maybe deleting the embargo on certain high-tech products, a move" contradictory since the U.S. on the one hand trying to boost its exports and impose other controls on those directed at China. " On the other hand, Beijing seems to have the keys to the short future well-being of the American economy.

China holds more than a fifth (20.8 percent) of U.S. public debt in foreign hands, more than 850 billion dollars. And Beijing's foreign exchange reserves (in 2010 rose by nearly 20 percent to a height of 2.85 trillion dollars) more than one fourth the world total. And since the bulk of these reserves is in dollars, China holds the lever on one side for a possible devaluation of the greenback, the other is 'hostage' choices of exchange rate U.S..

Which in turn rely on - with little success - a revaluation of the yuan (rose just 3 percent from the little opening in June last year). Chinese media, starting by the official Xinhua news agency, who spoke of the 'beginning of a high-level political exchange for the second decade of the millennium ", they looked very forcefully the appointment next week, remembering that falls in the 40th anniversary of the ping pong diplomacy that led both countries to establish normal relations.

But China 'approached' by Richard Nixon (just arrived in Beijing in 1972) was a large rural village which despite its 820 million inhabitants had a GDP of only U.S. $ 98.5 billion, surpassed by Italy (120 billion) and far away from the U.S. (1,113 billion). Forty years after the 'Asian tiger' has exceeded one billion and 330 million inhabitants, but the momentum has become the second world economy with a gross domestic product - according to the International Monetary Fund - rose to 5.745 billion dollars (nearly three times in Italy).

The United States is still a long way with 14.624 billion, but the growth trend, together with the production dynamics and demographic is merciless in the medium term. Overtaking is assumed around 2020 but - with a differential growth in 2010 reached 6.3 percent (China grew by 10 percent, the U.S.

only 3.7 per cent) - could occur before the expected.
Posted by Manlio Gandolfi at 7:42 PM
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