There is a limited relationship between the yuan getting strong and the US trade deficit with China getting smaller.
Speaking in Tokyo at the annual meeting of the International Monetary Fund and the World Bank, he said there had been "some progress" in China's trade relationship with the US, but "domestic consumption still does not play a sufficient role in driving China's economy".
Again, contrary to popular "wisdom, " our China trade--in fact, all of our trade--is making us stronger.
In 2001, two thirds of shoes imported to the US came from China, says the World Trade Organisation.
We are going to continue to insist that on this issue, and on all trade issues between us and China, that it's a two-way street.
Trade relations between the US and China have been under strain in recent years.
China grew rich from trade while having, unlike us, no war to prosecute.
Yes, bringing one in from China to sell in a US store adds, in the headline numbers, some hundreds of dollars to the trade deficit with China.
After years of carrot-and-stick games with trade terms, the US has finally granted China permanent status as a normal trading partner.
In other international news, Australian Prime Minister Julia Gillard confirmed in Shanghai on Monday that Australia and China will trade directly in their currencies rather than through the US dollar.
Moreover, as the yuan strengthens against the dollar, some Chinese and US multinationals manufacturing there could shift production to lower cost countries, meaning the overall trade deficit would not be changed, the US China Business Council said.
The US wants China to move towards a more consumer-led economy, narrowing the trade gap between the two countries.
Trade sensitive industries are doing well in the US as exports to China and Brazil have risen over the last few years.
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According to China's Foreign Minister Yang Jiechi, China's trade with Asian countries is now more than its trade with the US and Europe.
In 2009, the US lost its position as Brazil's biggest trading partner to China, but bilateral trade still runs to billions of dollars.
BBC: Brazil sees steady ties with US after Obama re-election
Such agreements allow central banks to swap currencies and can be used by firms to settle trade in local currencies rather than in US dollars, as happens now, since China's currency is not fully convertible to other currencies.
Such agreements not only allow central banks to swap currencies, but can also be used by firms to settle trade in local currencies rather than in US dollars, as happens now, since China's currency is not fully convertible to other currencies.
With the emergence of China and India as world economic powers, gas exports will likely provide the US with a major bargaining chip in trade talks.
As I understand it, our national public debt was borrowed, in US dollars, from India and China in the sale of Treasury securities purchased with the US dollars that came from the sales of consumer goods in trade imbalance that has lasted for better than a decade.
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