23 July, 2014 AsiaNews.it Twitter AsiaNews.it Facebook            

Help AsiaNews | About us | P.I.M.E. | | RssNewsletter | Mobile





mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato
e-mail this to a friend printable version


» 11/22/2004
ASIA - PACIFIC
APEC: open face-off between China and the US
Differences appear over exchange policy, Latin America, North Korea and Taiwan.

Santiago (AsiaNews/Agencies) – China's attempt to exert greater international clout has led to confrontation with the US at the Asia-Pacific Economic Cooperation (APEC) meeting that ended yesterday in Santiago (Chile).

Whilst leaders from Pacific-Rim countries discussed trade issues in the two-day summit, Chinese President Hu Jintao and US President George W. Bush also held bilateral talks over several issues. The exchange rate was one of them.

Beijing has been calling on the US to take steps to stabilise the US dollar. Unless this done, China will not reform its own foreign exchange system. The current situation is favourable to China whose exports are undervalued whilst imports are too expensive. This is substantially due to the fact that yuan is not yet convertible. Pegged at 8.3 against the green back for a decade, the value of yuan is so low that it unfairly favours Chinese exports.

China's trade relations with Latin America are another bone of contention. A declining dollar means a declining US influence in areas like Latin America. China intends to profit and become Latin America's main trading partner. In Santiago, Hu Jintao has unveiled plans to invest US$ 30 billion in the region and signed 11 bilateral accords with Brazil. China is already the largest importer of Chilean copper and iron as well as Brazilian bauxite and zinc. Bush did say that the growth in China's trade with Latin America was "good for global prosperity".

International security was another stumbling block. China called the United States an obstacle to a peaceful resolution of the North Korean nuclear issue. In bilateral meetings with South Korean President Roh Moo-Hyun and Mr Bush on Saturday, Mr Hu urged patience and flexibility on the North Korean issue and pledged to get a new round of six-party talks off at an early date. "The extreme mutual mistrust between North Korea and the United States is the biggest barrier to the peaceful resolution of the issue," China's Foreign Ministry spokesman Kong Quan said.

US-Sino relations are also clouded by the Taiwan issue. Hu Jintao called on the US to help crack down on separatist and independence forces on the island. "Taiwan independence forces [. . .] will seriously compromise peace, stability and prosperity in the Asian Pacific region," Mr Hu said. Up to now, Beijing had considered the Taiwan issue an internal affair and refused any outside interference.


e-mail this to a friend printable version

See also
11/11/2011 CHINA – UNITED STATES
Asia must “do more” for global recovery
05/25/2006 VIETNAM
US-Vietnam agreement soon, first step towards WTO membership
by Thanh Thao
11/18/2004 ASIA - PACIFIC
APEC: the future of a moribund institution
05/09/2006 VIETNAM – UNITED STATES
Vietnam negotiating entry into WTO with US
by Thanh Thao
11/18/2006 VIETNAM - APEC
APEC starts: free trade and North Korean threat are major issues

Editor's choices
VATICAN
Pope: I am with the persecuted Christians of Mosul and the Middle East "May the God of peace inspire in all a genuine desire for dialogue and reconciliation. Violence is never defeated with violence. Violence is defeated with peace." At the Sunday Angelus Francis comments on the parable of the wheat and the weeds. God is "patient" He knows "the same weeds in the end, may become good wheat". But "at the time of the harvest, that is, of judgment, the reapers will execute the order of the master separating the weeds to be burned".
CHINA - VATICAN
Beijing, seminarians desert graduation ceremony: We will not celebrate Mass with illegitimate bishops The rector of the seminary is the illegitimate bishop Joseph Ma Yinglin: Students refuse to concelebrate with him and reject Msgr. Fang Xingyao, who has participated in several illegal episcopal ordinations. The directors close the year without awarding diplomas and send students home: rumors of some courses being "suspended" in September. The precedent of 2000, when 130 young students chose fidelity to the Pope over compromise with the government.
HONG KONG-CHINA-VATICAN
Card Zen: Religious freedom and civil liberties are united, for China and Hong Kong
by Bernardo CervelleraA wide ranging conversation with the bishop emeritus of Hong Kong: the courage of Msgr. Ma Daqin, who sent a message to Pope Francis; underground Catholics are also prepared to be arrested; suspicions about Beijing’s sincerity towards possible dialogue with the Holy See. And in Hong Kong, the march for a referendum on democracy; support for "Occupy Central"; the fear of the government and arrests. Card. Zen reaffirms that religious freedom and civil liberties go hand in hand.

Dossier
by Giulio Aleni / (a cura di) Gianni Criveller
pp. 176
by Lazzarotto Angelo S.
pp. 528
by Bernardo Cervellera
pp. 240
Copyright © 2003 AsiaNews C.F. 00889190153 All rights reserved. Content on this site is made available for personal, non-commercial use only. You may not reproduce, republish, sell or otherwise distribute the content or any modified or altered versions of it without the express written permission of the editor. Photos on AsiaNews.it are largely taken from the internet and thus considered to be in the public domain. Anyone contrary to their publication need only contact the editorial office which will immediately proceed to remove the photos.