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China & USA should abandon zero-sum Cold War mentality: China
Chinese President Hu Jintao urged an end to a zero sum Cold War relationship with the United States and proposed new cooperation, but resisted US arguments about why China should let its currency strengthen.
Indeed, in a sign that the future of the US currency continues to concern the most senior levels of the Chinese government, he said the dollar-based international currency system is a product of the past.
Overall though, Hu, who will visit Washington this week, struck an upbeat tone about ties with the United States in a rare written interview with two US newspapers, the Wall Street Journal and the Washington Post.
We should abandon the zero-sum Cold War mentality, he declared, and respect each other's choice of development path.
Hu suggested cooperation with the United States in areas like new energy sources, clean energy, infrastructure development, aviation and space.
He also reassured foreign businesses in China that Beijing would continue to improve laws and regulations affecting them.
And he spoke encouragingly about the outlook for resolving tensions on the Korean peninsula, an area of concern to both Washington and Beijing.
But the Chinese president also indicated he does not accept US arguments for Beijing to let its currency appreciate. Critics say China's undervaluing of the yuan gives it an unfair price advantage in international trade, contributing to the huge US trade deficit.
Analysts thought Hu's generally conciliatory tone augured well ahead of his Washington meetings with President Barack Obama and other officials.
Hu makes it clear that China intends to move forward on opening its markets, freeing up its exchange rate and restructuring its political system, but at its own pace and with little heed to external pressures for more rapid or broader reforms, said Eswar Prasad, a Brookings Institution economist and former International Monetary Fund official.
The president's comments add to the sense that China intends to challenge the post-World War II financial order largely created by the United States and dominated by the dollar, the Wall Street Journal said.
The Chinese president responded to complaints that China does not always treat foreign companies registered in China fairly. Their innovation, production and business operations in China enjoy the same treatment as Chinese enterprises, he said.
China will continue to improve laws and regulations concerning foreign investment .... Hu said.
Bill Reinsch, president of the National Foreign Trade Council, said Hu glosses over the many problems foreign companies have had operating in China, but added it was useful to have the head of China's government state its goals.
Questions were submitted to Hu by the two US newspapers in late December, and the answers were released by the Chinese government on Sunday, The Washington Post said.
Hu said he sees signs of relaxation in tensions between North and South Korea, an issue of major concern to both Washington and Beijing.
Thanks to joint efforts by China and other parties, there have been signs of relaxation, Hu said. He was convinced an appropriate solution to the Korean nuclear issue could be found, a reference to North Korea's nuclear arms programs.
China, US should abandon zero-sum Cold War mentality: Hu
Chinese President Hu Jintao urged an end to a zero sum Cold War relationship with the United States and proposed new cooperation, but resisted US arguments about why China should let its currency strengthen.
Indeed, in a sign that the future of the US currency continues to concern the most senior levels of the Chinese government, he said the dollar-based international currency system is a product of the past.
Overall though, Hu, who will visit Washington this week, struck an upbeat tone about ties with the United States in a rare written interview with two US newspapers, the Wall Street Journal and the Washington Post.
We should abandon the zero-sum Cold War mentality, he declared, and respect each other's choice of development path.
Hu suggested cooperation with the United States in areas like new energy sources, clean energy, infrastructure development, aviation and space.
He also reassured foreign businesses in China that Beijing would continue to improve laws and regulations affecting them.
And he spoke encouragingly about the outlook for resolving tensions on the Korean peninsula, an area of concern to both Washington and Beijing.
But the Chinese president also indicated he does not accept US arguments for Beijing to let its currency appreciate. Critics say China's undervaluing of the yuan gives it an unfair price advantage in international trade, contributing to the huge US trade deficit.
Analysts thought Hu's generally conciliatory tone augured well ahead of his Washington meetings with President Barack Obama and other officials.
Hu makes it clear that China intends to move forward on opening its markets, freeing up its exchange rate and restructuring its political system, but at its own pace and with little heed to external pressures for more rapid or broader reforms, said Eswar Prasad, a Brookings Institution economist and former International Monetary Fund official.
The president's comments add to the sense that China intends to challenge the post-World War II financial order largely created by the United States and dominated by the dollar, the Wall Street Journal said.
The Chinese president responded to complaints that China does not always treat foreign companies registered in China fairly. Their innovation, production and business operations in China enjoy the same treatment as Chinese enterprises, he said.
China will continue to improve laws and regulations concerning foreign investment .... Hu said.
Bill Reinsch, president of the National Foreign Trade Council, said Hu glosses over the many problems foreign companies have had operating in China, but added it was useful to have the head of China's government state its goals.
Questions were submitted to Hu by the two US newspapers in late December, and the answers were released by the Chinese government on Sunday, The Washington Post said.
Hu said he sees signs of relaxation in tensions between North and South Korea, an issue of major concern to both Washington and Beijing.
Thanks to joint efforts by China and other parties, there have been signs of relaxation, Hu said. He was convinced an appropriate solution to the Korean nuclear issue could be found, a reference to North Korea's nuclear arms programs.
China, US should abandon zero-sum Cold War mentality: Hu