WASHINGTON — China Monday urged Washington to lift export and investment controls directed against Beijing, saying such a move could go a long way towards conquering the steep trade imbalance between the two powers.
But in their annual bilateral dialogue, US officials continued to press Beijing over its allegedly undervalued yuan as a way to redress China's $273 billion trade surplus with the United States.
"The way to resolve this imbalance is to ease the export control regime of the United States towards China and to encourage US exports to China rather than restricting Chinese exports to the United States," Chen Deming, the Chinese trade minister, told reporters.
Chen said Washington's forex argument over the trade issue between the world's two largest economies "is not founded."
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It will help if the US exhibits a "pair" of guts! Negotiations with China need to be a little hardcore vs. what they have been for say 2 years (but prob. more like 20 years over certain administrations) . You really have to spine up if you are going into a room with the "new" world leaders that have been eating your lunch for for so long, and their currency manipulation allows them live a quality life while growing a country of epic proportions.
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Michael Lebb
