Asia-Pacific News
Obama meets Chinese president, presses on currency
Nov 13, 2011, 2:55 GMT
Honolulu, Hawaii - US President Barack Obama met his Chinese counterpart Hu Jintao on Saturday for talks that were expected to focus on trade and international issues such as Iran and North Korea.
Obama and Hu met on the sidelines of an Asia-Pacific leaders' summit following talks earlier this week between finance, trade and foreign ministers.
In a speech earlier Saturday, Obama said the United States wanted to see China 'play by the rules' of international trade. He highlighted the issue of China's renminbi currency.
'There are very few economists who do not believe that the RMB (renminbi) is not undervalued,' Obama told business leaders.
'And that makes exports to China more expensive, and it makes exports from China cheaper,' he said.
'That disadvantages American business, it disadvantages American workers,' Obama said. 'And we have said to them that this is something that has to change.'
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