Enough Is Enough, Obama Tells China

[Jambhalheart]

Barack Obama served notice that the US was fed up with China's trade and currency practices as he turned up the heat on America's biggest economic rival.
"Enough's enough," Obama said bluntly at a closing news conference of the Asia-Pacific Economic Cooperation summit where he scored a significant breakthrough in his push to create a pan-Pacific free trade zone and promote green technologies.
Using some of his toughest language yet against China, Obama, a day after face-to-face talks with President Hu Jintao, demanded that China stop "gaming" the international system and create a level playing field for U.S. and other foreign businesses.
"We're going to continue to be firm that China operate by the same rules as everyone else," Obama told reporters after hosting the 21-nation APEC summit in his native Honolulu. "We don't want them taking advantage of the United States."
China shot back that it refused to abide by international economic rules that it had no part in writing.
"First we have to know whose rules we are talking about," Pang Sen, a deputy director-general at China's Foreign Ministry said.
"If the rules are made collectively through agreement and China is a part of it, then China will abide by them. If rules are decided by one or even several countries, China does not have the obligation to abide by that."

In another bow to U.S. pressure, APEC committed to reducing tariffs on environmental goods and services to 5 percent as a way to promote green technology trade, overcoming China's resistance to the idea.
Differences persist among APEC members -- a point hammered home by U.S.-China tensions -- and the question remains how far leaders will be able to go in turning promises into action. Many, Obama included, will face resistance to opening markets further to foreign competition.
Obama's public denunciation of China's policies came as he faces pressure at home, from Republican presidential contenders as well as fellow Democrats, for a tougher line on Beijing. But U.S. leverage is limited, not least because Beijing is America's largest foreign creditor.
Though Obama acknowledged a "slight improvement" in the value of China's yuan, he insisted it was not enough.
The United States has long complained that China keeps its currency artificially weak to give its exporters an advantage. China counters that the yuan should rise only gradually to avoid harming the economy and driving up unemployment, which would hurt global growth.
Hu was quoted by [url="http://www.orkut.co.in/Interstitial?u=http://chinanews.com/&t=AIU8tNLODAAzCW07rs4LW8jRYlFB8lP9YRVF6BHPOhTLLepkcou6qJpV89btnA5JBcIcq4CgFTjFWubyjMexdr4Egu0z4qwcLwAAAAAAAAAA"]Chinanews.com[/url] in Beijing on Sunday as saying a big appreciation in the yuan against the dollar would not help U.S. trade and unemployment problems.
The yuan inched up against the dollar. Dealers said Hu's comments in Honolulu indicated that China had no intention of letting the currency rise faster in the near term.

[dec_2012]

[img]http://i46.tinypic.com/2ezgqrk.gif[/img]

[ramu]

[quote name='Maddy_Rulez' timestamp='1321291897' post='3092204']
Barack Obama served notice that the US was fed up with China's trade and currency practices as he turned up the heat on America's biggest economic rival.
"Enough's enough," Obama said bluntly at a closing news conference of the Asia-Pacific Economic Cooperation summit where he scored a significant breakthrough in his push to create a pan-Pacific free trade zone and promote green technologies.
Using some of his toughest language yet against China, Obama, a day after face-to-face talks with President Hu Jintao, demanded that China stop "gaming" the international system and create a level playing field for U.S. and other foreign businesses.
"We're going to continue to be firm that China operate by the same rules as everyone else," Obama told reporters after hosting the 21-nation APEC summit in his native Honolulu. "We don't want them taking advantage of the United States."
China shot back that it refused to abide by international economic rules that it had no part in writing.
[color=#ff0000]"First we have to know whose rules we are talking about," Pang Sen, a deputy director-general at China's Foreign Ministry said.[/color]
[color=#ff0000]"If the rules are made collectively through agreement and China is a part of it, then China will abide by them. If rules are decided by one or even several countries, China does not have the obligation to abide by that."[/color]

In another bow to U.S. pressure, APEC committed to reducing tariffs on environmental goods and services to 5 percent as a way to promote green technology trade, overcoming China's resistance to the idea.
Differences persist among APEC members -- a point hammered home by U.S.-China tensions -- and the question remains how far leaders will be able to go in turning promises into action. Many, Obama included, will face resistance to opening markets further to foreign competition.
Obama's public denunciation of China's policies came as he faces pressure at home, from Republican presidential contenders as well as fellow Democrats, for a tougher line on Beijing. But U.S. leverage is limited, not least because Beijing is America's largest foreign creditor.
Though Obama acknowledged a "slight improvement" in the value of China's yuan, he insisted it was not enough.
The United States has long complained that China keeps its currency artificially weak to give its exporters an advantage. China counters that the yuan should rise only gradually to avoid harming the economy and driving up unemployment, which would hurt global growth.
Hu was quoted by [url="http://www.orkut.co.in/Interstitial?u=http://chinanews.com/&t=AIU8tNLODAAzCW07rs4LW8jRYlFB8lP9YRVF6BHPOhTLLepkcou6qJpV89btnA5JBcIcq4CgFTjFWubyjMexdr4Egu0z4qwcLwAAAAAAAAAA"]Chinanews.com[/url] in Beijing on Sunday as saying a big appreciation in the yuan against the dollar would not help U.S. trade and unemployment problems.
The yuan inched up against the dollar. Dealers said Hu's comments in Honolulu indicated that China had no intention of letting the currency rise faster in the near term.
[/quote]

china vallu already response ichinattu vunnaru gaa..... [img]https://lh5.googleusercontent.com/-yINxHSpe_hY/Tr_5hcSwx_I/AAAAAAAAACs/7amhuwsiNXE/s320/117yzxe.jpg.gif[/img]