19 March 2018
AsiaNews.it Twitter AsiaNews.it Facebook
Geographic areas

  • > Africa
  • > Central Asia
  • > Europe
  • > Middle East
  • > Nord America
  • > North Asia
  • > South Asia
  • > South East Asia
  • > South West Asia
  • > Sud America
  • > East Asia

  • » 11/22/2004, 00.00


    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
    At the opening of the APEC summit, US Treasury Secretary Tim Geithner said member states must do more to boost demand and improve currency exchanges. For China, this is “too ambitious” as well as a potential problem for the Asian juggernaut. Clinton appeals to Beijing to improve human rights at home.

    25/05/2006 VIETNAM
    US-Vietnam agreement soon, first step towards WTO membership
    If managed well, entry into World Trade Organisation could be the solution to Vietnam's many problems like unemployment.

    09/05/2006 VIETNAM – UNITED STATES
    Vietnam negotiating entry into WTO with US
    Washington wants Hanoi to adapt its laws to WTO rules and is willing to see Vietnam join in 2006.

    18/11/2004 ASIA - PACIFIC
    APEC: the future of a moribund institution
    Leaders of 21 Asia-Pacific countries discuss trade, energy, security, terrorism and corruption.

    06/11/2017 10:41:00 JAPAN - USA - ASIA
    Trump’s trip to Asia: one eye on North Korea, one on trade

    North Korean threat on agenda in meetings with leaders in Japan, South Korea, China. But also the balance of trade. Attempts to encircle Chinese economic power in talks with Hanoi and Manila. Overcoming the Asia-Pacific area, which now becomes "Indo-Pacific".

    Editor's choices

    Syrian Trappist nuns say Western powers and factional media fuel war propaganda

    In a written appeal, the religious systematically take apart the version of the conflict touted by governments, NGOs and international news organizations. In Ghouta east, jihadists attack the capital and use civilians as human shields. The Syrian government and people have a duty to defend themselves from external attacks. The conflict alone has undermined the coexistence between Christians and Muslims in the country.

    Xinjiang, crosses, domes, statues destroyed: the new 'Sinicized' Cultural Revolution

    Bernardo Cervellera

    Crosses removed from the domes and the tympanum of Yining Church as well as external decorations and crosses, and the Way of the Cross within the church. The same happened at the churches of Manas and Hutubi. The Cross represents "a foreign religious infiltration ". Prayer services forbidden even in private houses under the threat of arrests and re-education. Children and young people forbidden to enter churches. Religious revival frightens the Party.


    AsiaNews monthly magazine (in Italian) is free.


    News feed

    Canale RSSRSS channel 


    IRAN 2016 Banner

    2003 © All rights reserved - AsiaNews C.F. e P.Iva: 00889190153 - GLACOM®