The G20 summit ended in Seoul, South Korea, where the leaders of 20 nations debated on yuan and trade imbalances. The claim is that the yuan exchange rates are set artificially low to sell the Chinese products cheap. As a result, the trade deficits between the US and China is in $201,233 million from January to September this year.
If the yuan rate is up, the argument goes that the people would buy more made-in-USA products which would means more jobs here in the States. In order to counter the claim, the Chinese government announced to ease the restriction on its currency rate, which went up by 3%, which the government claims not enough.
President Obama stated "Letting currencies reflect market fundamentals, allowing your currency to move up and down depending on the role you are playing in the international trading system, is the best way to ensure that everybody benefits from trade rather than just some," regarding the final statement issued by the leaders which endorses the gradual changes in currency values.
Canadian Prime Minister Stephen Harper said, "These things didn't happen overnight, they're not going to be fixed overnight," while G20 leaders failed to address China by its name.
The Seoul statement set the guidelines to address trade imbalances but G20 leaders did not agree upon setting the 4% target to limit the deficits and surpluses as proposed.
President Obama expressed hopes that China will improve the situation on the currency issue and said he is looking forward to the visit of the Chinese President Hu Jintao in January.
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Now I know how to write Cameron in Chinese letters. It's card-prune-ethics. 卡梅倫
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The Amendment 17 of the Constitution is about senatorial election which gives the state government the right to choose the senators when they get out of office. It states that the election should soon follow but does not specify when. There are some controversial cases of appointing kins of some powerful members in the legislature by the governors. Some member of Senate oppose this measure and insist that they should be elected by special election.
If the yuan rate is up, the argument goes that the people would buy more made-in-USA products which would means more jobs here in the States. In order to counter the claim, the Chinese government announced to ease the restriction on its currency rate, which went up by 3%, which the government claims not enough.
President Obama stated "Letting currencies reflect market fundamentals, allowing your currency to move up and down depending on the role you are playing in the international trading system, is the best way to ensure that everybody benefits from trade rather than just some," regarding the final statement issued by the leaders which endorses the gradual changes in currency values.
Canadian Prime Minister Stephen Harper said, "These things didn't happen overnight, they're not going to be fixed overnight," while G20 leaders failed to address China by its name.
The Seoul statement set the guidelines to address trade imbalances but G20 leaders did not agree upon setting the 4% target to limit the deficits and surpluses as proposed.
President Obama expressed hopes that China will improve the situation on the currency issue and said he is looking forward to the visit of the Chinese President Hu Jintao in January.
--
Now I know how to write Cameron in Chinese letters. It's card-prune-ethics. 卡梅倫
--
The Amendment 17 of the Constitution is about senatorial election which gives the state government the right to choose the senators when they get out of office. It states that the election should soon follow but does not specify when. There are some controversial cases of appointing kins of some powerful members in the legislature by the governors. Some member of Senate oppose this measure and insist that they should be elected by special election.