Obama and Hu Jintao, the "agreements" on economic protectionism and the growth of the yuan
Beijing (AsiaNews) - In a press conference this morning, presidents Obama and Hu Jintao expressed mutual acceptance. A joint statement lists a series of discrete agreements on climate, Iran on the nuclear problem of North Korea, etc. .. Beyond a general call for dialogue with the Dalai Lama - balanced by the recognition that Tibet is part of China - there was no word on human rights. Rather more widespread, however, was dialogue on the economy, where differences emerged, but were wrapped up in a generic sense of collaboration.
The welcoming ceremony took place inside the Great Hall of the People in Tiananmen Square, perhaps to avoid the sight of protesters. Hu "warmly greeted" his counterpart on his first visit to China, recognizing his great commitment to improving Sino-American relations. Obama reaffirmed his willingness to cooperate with Beijing, which benefits not only the United States but "the rest of the world as well".
At a joint press conference, both expressed agreement on the problem of North Korea’s nuclear ambitions and issues related to climate change. Obama has stated that China and the U.S. want the Copenhagen Conference to be a success and want to have measures in place "with immediate effect”. The statement is the direct opposite to the outcome of last week’s Asia-Pacific summit, where on account of China and the United States, the possibility was excluded that compulsory measures to save the climate will be put in place in Copenhagen.
Regarding the economy, apparently Beijing and Washington are "determined to work together to achieve a more balanced and sustainable global economic growth." But in practice, Hu said they want a world that "rejects protectionism" as a veiled indictment of recent U.S. measures against the taxes on tires and tubes from China. Obama, for his part, appreciated the willingness of China to want to set the Yuan to a more market-oriented monetary policy. A few days ago - after endless pressure to re-appreciate the Yuan - the Central Bank of China said it would consider a fluctuation of the Yuan against a selection of currencies. To date, the Yuan is pegged to the dollar and much underestimated as a value. This gives Chinese products a huge advantage in exports, as well as producing an imbalance in the huge U.S. balance of payments.
In recent weeks, many Chinese dissidents, activists, lawyers had asked Obama to press China to respect human rights. The matter was addressed, but in a superficial manner. Obama mentioned respect for minorities and said that he hoped Beijing would resume talks with the Dalai Lama, but pointed out that the United States "recognizes that Tibet is an integral part of China". A month ago Obama, contrary to White House tradition, refused to meet with the Dalai Lama during a visit of the Tibetan leader to the U.S..
Yesterday in Shanghai, the U.S. president during a meeting with students, had declared that "freedom of expression and religion, access to information and political participation are universal rights. They should be enjoyed by all persons, including ethnic and religious minorities". But the national television and newspapers deleted this sentence, only allowing it in texts read on the Internet.
In the joint statement published at the end of the talks, collaboration in the scientific and military fields, for health issues, space security and in the area of climate change are emphasised. Obama has also invited Hu Jintao to visit the United States next year.
According to observers, "it is very difficult for Obama to play hard while on the other side of the table sits the head of the Chinese Communist Party, which holds the U.S. debt in its hands". In fact, China is the largest foreign holder of U.S. debt, for an amount of 797 billion dollars.
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