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Obama sets talks with Medvedev and Hu while in Hawaii for APEC

By Bloomberg News

LAST UPDATED: 07:25 a.m. HST, Nov 10, 2011

President Barack Obama will hold separate talks with Russian President Dmitry Medvedev and Chinese President Hu Jintao as host of this year’s Asia-Pacific Economic Cooperation forum in Hawaii.

Expanding U.S. trade will be at the top of Obama’s agenda at the APEC summit that begins Nov. 12, Ben Rhodes, deputy national security adviser, told reporters at a briefing.

Obama and Medvedev will mark Russia’s completion of the final steps leading to its entry to the World Trade Organization, Rhodes said.

The meeting with Hu, leader of the world’s second-biggest economy, is scheduled to take place during the opening day of the forum.

Obama will discuss U.S. concern about China’s currency valuation when he meets with President Hu Jintao at an economic forum in Hawaii later this week, Ben Rhodes, deputy national security adviser, said.

The U.S. welcomes recent moves by China to let its currency appreciate and pledges to boost domestic consumption, “but again, we don’t believe that those are sufficient,” Rhodes said at a White House briefing.

Obama will raise with Hu the need for China to increase domestic demand to support global growth and currency “is a part of that picture,” Rhodes said.

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HD36 wrote:
Obama will beg Hu, " Please keep buying US treasury bonds, we don't want our economy to collapse with high interest rates." If theat happens, we won't have any money to lavish on our military, which we spend more on than all the other countries in the world combined. Aslo we won't be able to buy any of your imports. Forget that you are actually importing inflation to your own country to the detriment of your citizens by purchasing Treasuries. Although there is no way we can pay you back without devalueing our dollar by printing more, at least you can maintain your shoe factories.
on November 9,2011 | 07:37AM
Beaglebagels wrote:
And Hu replies to Obama, "Of course we will buy your bonds, what else can we do with the 300 Billion dollars per year that you guys send us buying all our crap. Although you Americans fret about your dollar, I wouldn't buy Euros if my life depended on it!"
on November 9,2011 | 08:10AM
HD36 wrote:
And secretly China is the largest buyer of gold. Perhaps because it can't be printed, perhaps because they are aiming to have the world's reserve currency sometime in the future. How long can you keep throwing money down a rat hole?
on November 9,2011 | 02:26PM
9ronboz wrote:
Can we trust Barack in making the right call?
on November 9,2011 | 08:08AM
nuuanusam wrote:
Probably it will be "how-are-you, do-you-have-lunch-yet" meeting.
on November 9,2011 | 09:20AM
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