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Obama adviser Summers to visit China September 4

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WASHINGTON | Thu Sep 2, 2010 6:36pm EDT

WASHINGTON (Reuters) - The White House said on Thursday that President Barack Obama's top economic adviser will visit China from Saturday for three days of meetings.

The White House said in a statement that National Economic Council Director Larry Summers and Deputy National Security Adviser Thomas Donilon would travel to Beijing on September 4.

The two will meet with Chinese Vice Premier Wang Qishan and State Councilor Dai Bingguo and "will discuss a wide range of issues touching on bilateral and international issues," the White House said. It provided no further details on what topics would be raised during the visit.

Obama has urged China to allow the foreign exchange value of its yuan currency be set by market forces. He also said it could appreciate significantly, after China announced in June that it would allow more yuan flexibility.

Many U.S. lawmakers say China holds the yuan at unfairly low levels against the dollar, costing American jobs by making Chinese exports to the United States cheaper and U.S. sales to China more expensive.

(Reporting by Alister Bull, editing by Eric Beech)
Politics
Barack Obama
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Comments (3)
STORYBURNthere wrote:
Sumners is the king of idiots. Why Obama trusts him is beyond me

Sep 02, 2010 10:06pm EDT  --  Report as abuse
Pete_Murphy wrote:
Any time American officials visit China, Chinese trade negotiators are left rolling in the aisles with laughter and a worsening of the U.S. trade deficit soon follows.

Sep 03, 2010 6:43am EDT  --  Report as abuse
misterliu wrote:
Apparently, the Chinese have learned from the economic failures of socialism, while the US administration has learned nothing.

Sep 03, 2010 8:46am EDT  --  Report as abuse
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