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Obama begins Chinese leg of Asian tour

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Obama begins Chinese leg of Asian tour


US President Barack Obama has kicked off the Chinese leg of his Asian pacific tour, arriving in Shanghai.

The trip is seen as critical to Sino-American relations and on how to tackle key issues such as the global economy and climate change. China is also America’s second biggest trading partner and the largest holder of US debt. Obama is seeking to persuade Beijing to raise the value of its currency the Yuan, however the Chinese appear reluctant to move on the issue. Chinese Foreign Ministry spokesman Qin Gang said: ‘‘The financial situation of the US is the factor influencing the direction of the US dollar exchange rate, and thus the US economy. We hope the US can overcome its current financial crisis and at the same time pay more attention to its budget deficit, to maintain a financial policy that is sustainable in the mid and long term.’‘ In addition, to trade and the environment, human rights may feature in discussion between the two powers.

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