Hu Softens On Iran But Keeps Hard Line On Yuan

U.S. President Barak Obama took what he could from his private meeting with President Hu Jintao ahead of the Nuclear Security Summit in Washington. That was a willingness of China to be open to sanctions as well as diplomacy to pressure Iran over its nuclear program. But he got nothing when it came to the contentious issue of revaluing the yuan. That would happen when China deemed it should, Hu said, yet again, reminding his U.S. counterpart that “RMB appreciation would neither balance Sino-U.S. trade nor solve the unemployment problem in the United States,” and throwing in a cheeky suggestion that if Washington loosened its restrictions on high-tech exports, American companies could export more to China.

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Filed under China-U.S., Economy

One response to “Hu Softens On Iran But Keeps Hard Line On Yuan

  1. Pingback: Fast Q1 GDP Growth Adds To Pressure On Beijing To Cool Economy « China Bystander

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