Could you elaborate a little bit on the currency issue, such as the Vice President is going to talk to China on the value of the dollar and also the appreciation of the RMB?

WHITEHOUSE: Via Telephone

Nonetheless, the available evidence suggests the RMB remains significantly undervalued, and further appreciation of the RMB against the dollar and other major currencies is warranted.

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The first assumption is that China is in a position to deal with the negative effects of an appreciating RMB, as Japan did with the yen appreciation in the 1980s by accelerating its transformation from an imitator to an innovator.

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