video transcript

(ROUGH CUT ONLY - NO REPORTER NARRATION) United States President Barack Obama held a bilateral meeting with Chinese Premier Wen Jiabao, Tuesday (November 20) during the East Asia Summit in Phnom Penh, Cambodia. In remarks to reporters Obama tried to focus on the economic conditions in the United States and the global economy while tensions are flaring over maritime and territorial disputes in the South China Sea. "I very much believe that the co-operative and constructive approach that we have taken to our bilateral relations is good for both our countries and the world and it is very important as two of the largest economies of the world that we work to establish clear rules of the road internationally for trade and investment that can increase prosperity and global growth," Obama said. The economic discussions avoided the acrimony that have provided an uneasy backdrop to President Barack Obama's arrival for the regional summit in Cambodia. Japanese Prime Minister Yoshihiko Noda challenged efforts by summit host Cambodia, a staunch China ally, to limit discussions on the mineral-rich sea, where China's territorial claims overlap those of four Southeast Asian countries and of Taiwan.