Making matters worse for Washington, Beijing's progress comes as disagreements over China's military modernization, currency revaluation, trade practices and extra-regional aspirations have intensified.

CENTERFORSECURITYPOLICY: An African "Marshall Plan"

The United States has no intention of upsetting the PRC - what with all the "help" Team Obama keeps hoping the Chinese will provide on sanctions on Iran, trade, currency revaluation, the "Six-Party talks, " etc.

CENTERFORSECURITYPOLICY: No worse friend, no better enemy

China's capital controls are porous, and investors all over Asia are betting on a currency revaluation by buying property in Shanghai or Beijing or putting their money into yuan deposits to take advantage of interest rates higher than the paltry level available in America.

ECONOMIST: China's economy

The 12-month (notional) forward rate for the yuan is currently betting on a 5.5% revaluation of the currency over the next year.

ECONOMIST: The latest G7 meeting has changed little

There is chatter about a revaluation of China's currency soon, but anyone expecting a big shift is likely to be disappointed.

ECONOMIST: Asian currencies

As China's central banker, Mr Zhou is likely to face growing calls from Japan and the United States for a revaluation of China's currency, the Yuan, to reflect the strength of its fast-growing economy.

BBC: China gets new central banker

In addition, the CEA has indicated that currency markets will play a major role in the report Monday, but don't expect it to push for a revaluation of China's currency, which many believed to be undervalued, thus contributing to the U.S. trade deficit.

FORBES: A Bush View Of The Economy

Kim Kyong Hui has held a series of positions in economic ministries and agencies and, before a revaluation of the country's currency in 2009, published articles about the need for the government to curtail market-oriented activity.

WSJ: Dictator's Death Stokes Fears