31 October, 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
IRAQ - ITALY
Letter from Archbishop of Mosul: Thank you for your aid, supporting the plight of refugees
by Amel NonaThe donations made through the "Adopt a Christian from Mosul" campaign are used to buy food, warm clothes, blankets for refugees and rent houses or caravans given the early onset of winter and. Two women have defended their Christian faith before the Islamist militants who wanted to convert them, despite the threat of death. A refugee among refugees, Msgr. Nona discovers a new way of being a pastor.
IRAQ - ITALY
Almost 700,000 euros raised as the 'Adopt a Christian from Mosul' campaign continues
by Bernardo CervelleraA second instalment is sent with funds raised in September. The fate of East-West relations is being played out in the Middle East and Iraq. Pope Francis and the Synod issue an appeal. Governments are lukewarm. Aid is coming from around the world. A new international community is defeating the "globalisation of indifference."
IRAQ-VATICAN
"Adopt a Christian from Mosul": Archbishops’ thanks as first aid arrives
by Amel NonaMsgr. Amel Nona, the Chaldean Archbishop of Mosul, who is also a refugee himself, thanks all the donors to the AsiaNews campaign. The situation is increasingly difficult given the huge number of refugees and the arrival of winter and snow, making outdoor shelters and tents impossible. The crisis, an occasion that activates the faith of Christians.

Dossier

by Giulio Aleni / (a cura di) Gianni Criveller
pp. 176
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.