Obama's Criticism of China Concludes G-20 Summit

President Obama blamed China for a lack of quick progress in economic fixes at the conclusion of the G-20 Summit of leading rich and developing nations in Seoul, South Korea Friday.

According to the New York Times, Obama accused the Chinese government of intentionally keeping the value of its currency low to promote exports.

"Precisely because of China's success, it's very important that it act in a responsible fashion internationally," said Obama, who went on to explain that China risks alienating its trade partners by continuing to keep the value of its currency so low.

Chinese policy was an extremely prevalent topic during the American election season, when numerous candidates broadcasted attack ads against candidates favoring increased trade with China, according to CNN.

Political analysts are concerned that China, as a growing economic power, will serve as a fierce competitor in the present with uncertain plans for the future, according to CNN.

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This page contains a single entry by tolzm016 published on November 13, 2010 11:35 AM.

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