(Thumbnail image: White House)
President Barak Obama met with his Chinese counterpart Hu Jintao in Beijing this week, his first visit to the country since he took office. Among other things, the leaders discussed the trade imbalance that is a source of tension between the two nations. (Video: NHK)
So was Obama’s trip to China successful? And what – if anything – can be done to ease the economic situation?
We’re tracking reactions to the visit from NHK, The Hill, World Focus, CCTV and Newsweek.
We begin with a look at why the talks are so important for the U.S. An analyst on Japanese TV station NHK looks at the economic side, saying Obama…
“…is counting on the rapid recovery of China out of the world financial crisis to lift the American economy...Both sides know that China’s growth should be promoted not by an increase in exports, but rather by an increase in China’s domestic demand.”
A blogger for The Hill says despite such economic concerns, Obama should not have kowtowed to the Chinese on issues like human rights.
“This exaggerated bow to the power of the Chinese is silly. We don’t have to be overly hostile to the Chinese, but we certainly don’t have to be treating them like they are some sort of big brother, either.”
A writer for Worldfocus offers a more positive perspective, examining the visit’s symbolic significance.
“President Barack Obama is taking the right approach in treating China as a key partner on global challenges by emphasizing the need for joint problem solving.”
On CCTV’s Dialogue, a panelist takes a different look at the cause for the trade imbalance. He claims the burden to change is not on the Chinese but on the U.S.
“In the U.S. savings rates are clearly too low and will have to rise and as they rise that means that consumption is going to contract…If the U.S. rebalances China must rebalance because excess saving will have to be exported.”
Going forward, a Newsweek columnist has an optimistic outlook for the countries’ economic ties, and believes there is no need to tamper with them.
“Eventually…the Chinese will begin consuming more normally, introducing more balance to capital flows…The global system may not be pretty…But it is working. So let's hope Barack Obama has the wisdom to leave well enough alone.”
Did President Obama make progress in his first trip to China? What is the best balance for economics between the two countries?
Writer: Ben Paul
Producers: Ben Paul, Nathan Giannini
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