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Obama turns up the heat on China
United States president Barack Obama, today turned up the heat on china by telling them in no uncertain terms to grow up by slamming their trade and currency policies. The statement comes after Obama increased his work on providing a free trade zone across the pacific to promote green technologies within the region. Obama held extensive talks with Chinese Prime Minister Hu Jintao in an attempt to stop the Chinese gaming the international system and set a level playing field for all European and American companies.
Obama stated that America was going to stand firm to force China into abiding by the same rules as every other country instead of them benefiting from the United States uncertain economy. The Chinese have retorted by stating they do not see why they should have to abide by rules which they had no input in writing. With obama stating what he has there is still uncertainty what type of action the United States could take as China have also stated that political posturing will bear no effect on its decisions as they have no plans to let their currency rise to unmanageable levels contrary to obamas claims they are keeping their currency low artificially which was having a detriment on American businesses and jobs. China historically has been a country that prides itself on its economical development but with the global crisis in full effect should actually grow up and play its part in the future of a broader world economy. The war of words between the United States and China has unveiled that the leaders of the global giants should be working together to provide tactics to bolster their economies which in effect will lower trade barriers and provide their regions with a shield against the crumbling euro zone.
China’s growing concern within the pacific is a great opportunity to increase trading opportunities within the region whilst providing a solution to the European crisis. With Obama publicly criticizing China openly there are many rumors that the president is receiving more and more pressure from influential sources within his own government but with China being the United States biggest creditor the President is finding it hard to apply leverage to the Asian country. For years now though the United States has been claiming China keep their currency at a lower rate as they provide exporters with an advantage although they strongly deny this and say their currency is low as they attempt to minimize the risks to their own economy in areas such as unemployment which could do more damage to global growth.
The United States engagement in the area was again defended by Obama today as he called their presence absolutely critical for the future of the American economy. The pacific at the moment is the world’s largest growing region due to expanded trade and through making the stability of the area paramount he will also be cementing his place for re-election in the coming months. The main thing for Obama is to assure his allies swivel as the Chinese flex their military and economical muscles in the Asian region in addition to others. Many of the critics of Obama are standing firm and together as they wonder if Washington can in fact stay undistracted by their own economic problems as well as their campaigns in war torn countries such as Afghanistan and Iran.
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