Now Reading:

Obama attacks China on value of yuan at APEC

world news

Obama attacks China on value of yuan at APEC


The Asia-Pacific Economic Cooperation (APEC) summit in Honolulu ended with agreements to increase trade, encourage innovation and make travel between the countries easier.

Breaking with tradition, the leaders did not wear Hawaiian aloha shirts for the photo – ending a custom of wearing something to symbolise the host country.

Barack Obama used a speech on the final day to criticise China for continually refusing to devalue its currency.

“The problem is that you’ve got a bunch of export producers in China that like the system as it is and making changes is difficult for them politically. I get it. But the United States and countries, I think understandably, feel that enough’s enough,” said the US President.

With Beijing’s intransigence over the value of the yuan, searching for more beneficial trade arrangements could be vital for the American economy.

Obama also held talks with Canadian Prime Minister Stephen Harper. Canada is the latest to join the nine-nation Trans-Pacific Partnership (TPP) free trade area including the United States, Australia and Singapore.

Every story can be told in many ways: see the perspectives from Euronews journalists in our other language teams.

Next Article

world news