Bush to China president: let your people spend

Manufacturing News, Source : The Manufacturer US
Published : 28 Nov 2006 14:06

A Bloomberg report has President Bush urging China President Hu Jintao to "unleash the spending power" of Chinese consumers, to boost US exports.

Hu Jintao told Bush in a phone call on the 27th that he will seek more "balanced" trade relations with the US. Time will tell - the US has urged China for nearly five years to revalue its yuan, charging that undervaluing the yuan undercuts US exports. China in turn has made a few adjustments, largely perceived as token.

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