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UPDATE 1-Obama to emphasize China currency concern on trip
November 2, 2010 / 5:35 PM / 7 years ago

UPDATE 1-Obama to emphasize China currency concern on trip

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WASHINGTON, Nov 2 (Reuters) - The United States will raise concern about China’s currency repeatedly during President Barack Obama’s trip to Asia, which begins later this week.

“Exchange rates, particularly the Chinese exchange rate, will be something we’ll be talking about at all the stops,” said Jeffrey Bader, an Asia expert and senior White House aide.

“We think that undervalued currencies serve as a trade advantage for those countries whose currencies are undervalued,” Bader said in an online discussion of Obama’s trip, which includes India, Indonesia, South Korea and Japan.

“We have argued that the Chinese currency needs to be allowed to move toward a market-based level,” he said. “If the Chinese currency moves in that direction, we think that other currencies that are undervalued, including those in Asia, will move as well.”

Reporting by Caren Bohan and Patricia Zengerle; Editing by Sandra Maler

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