Obama's low-key visit to China avoids simple exchange rate problems

⊙ journalist Zhu Zhouliang 0 editor Zhu Xianjia on the eve of his first Asian tour, U.S. President Barack Obama briefed the media on his main goal of the trip.　　Obama admits that during the week-long visit, China's upcoming trip from 16th to 18th was "very important" because the two countries were both important partners and rivals. Although the renminbi has recently been hyped by public opinion, Mr Obama has deliberately downplayed the issue when answering reporters ' questions. The White House spokesman, while looking ahead to the results of Mr Obama's trip, is also very low-key, saying he does not expect to achieve tangible results on some major issues, including trade and exchange rates.　　Analysts say Mr Obama's trip will focus on "retreats" to maintain good economic relations with the major US debt holders in Asia. White House talks on Asia trip The White House spokeswoman said Obama will leave for Asia 12th local time and return to Washington on 20th.　　Obama will visit four Asian countries, namely Japan, Singapore, China and South Korea.　　It would also be the first trip to Asia after Mr Obama took office, perhaps because the White House seemed intent on cooling the president's high expectations for Congress and some in the US. At a news conference on 9th, the White House spokesman made clear that Mr. Obama was unlikely to make tangible concessions on hot issues during the visit, but was not likely to achieve substantial results.　　Some of the hot issues will remain unresolved, such as free trade agreements with South Korea, climate change and trade and currency issues with China.　　Bader, head of East Asia affairs at the National Security Council, said Obama's key issues in Asia include North Korea and Iran's nuclear issue, the economy, climate change, energy, Afghanistan and Pakistan.　　According to the itinerary, Obama will visit Shanghai on 16th, 17th, 18th to Beijing, during which Chinese President Hu Jintao will attend the state banquet.　　Diplomats said Mr Obama's trip could be a "retreat" in the hope of using Obama-style motivational speeches and charisma to try to raise the U.S. 's influence while maintaining close economic ties with the region, which has become the main holder of U.S. debt.　　However, there is also news that during Mr Obama's visit, China and the United States will sign a clean energy cooperation agreement, which will include joint research projects on carbon capture technology and electric vehicles.　　Mr Obama cautioned that the renminbi's exchange rate had been fairly low-key before his departure, in contrast to the recent aggressive momentum on trade with China. In response to reporters on China's "currency manipulation" not to ask questions, Obama appears cautious. He said that, as the President of the United States, when discussing such issues, "we should ensure that all relevant issues are taken into account, not just one aspect." Mr Obama is simply avoiding the question of whether to recognise the yuan's sharply undervalued currency. He said Geithner has been exploring with Chinese officials not only the exchange rate issue, but also the many factors leading to economic imbalances, which will be hisThe focus of the panel discussion. Obama stressed that the US side believes that China is both an important partner and a competitor. It is important to ensure that the competition between the two sides is friendly competition.　　He said that on key issues such as climate change, economic recovery and nuclear non-proliferation, it would be difficult for both countries to achieve their goals if they did not work closely together. "I think that's why we need to start a strategic partnership," he said. Because of this, my visit to China is very important.　　"he said. World Bank urges us to take responsibility Obama said one of the lessons of the severe economic downturn of the past year has been to move away from this unbalanced, bubble-based economic model to a sustainable development model. This, he says, means a more responsible approach to China's exports and savings rates, while China should spur domestic demand.　　If both China and the United States are fully aware of the benefits of a sustainable development model, both will benefit and the world will be more stable. World Bank President Robert Zoellick also said yesterday that China-US relations are a "fundamental factor" in determining regional stability. He also urged the United States to take the lead in security and economic affairs. Zoellick said the world should "take the initiative" to make trade more open, not just to stop or to keep things from deteriorating.　　In recent times, some countries led by the United States have significantly increased trade protection, while China, which has a better economic recovery, has frequently been targeted. The bank's chief economist, Justin Yifu Lin, said in a speech in Hong Kong in Monday that a stronger renminbi could hamper the global economic recovery. Lin said that a stronger renminbi would raise the price of Chinese goods imported from the US, reducing demand for US consumers and would not shrink the US trade deficit because most of the products imported from China are not produced by US local companies. American consumers will only pay more for imported goods, even if they are not Chinese goods.