Chinese officials head for crisis talks in US

[lovuian]

http://feeds.bignewsnetwork.com/index.php?sid=368803

Top officials from the United States and China will gather in the US Naval Academy town of Annapolis later this month to discuss the global credit crisis and record oil prices.

Trade and currency issues are also on the agenda.

Treasury Secretary Henry Paulson, will outline the administration's hope that China will allow its currency, the yuan, to rise more quickly in value against the dollar.

It is contended that the Chinese have gained unfair trade advantages by keeping the yuan undervalued, making Chinese goods cheaper for American consumers and American products more expensive in China.

Paulson has been urging the Chinese to open their financial system to foreign banks and investment houses including major US institutions.
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Somehow China doesn't seem like its going to obey

[angstlessk]

1. all your yuans belong to us...oops...they really do...

it ain't just pretending any more!

[izquierdista]

2. Artificially low

Oh yes, that will really help, let the yuan pop up to its true value and then the dollar will REALLY look like Charmin. This is definitely a case of watch out what you ask for.