![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
. | ![]() |
. |
![]()
Ottawa (AFP) June 23, 2010 Chinese President Hu Jintao touched down in the Canadian capital Wednesday for a three-day state visit ahead of a G20 summit in Toronto, live television footage showed. Hu is scheduled to meet Thursday with Prime Minister Stephen Harper to discuss a range of issues of mutual interest and address opportunities to strengthen bilateral ties. The Chinese leader arrived just hours after a 5.0-magnitude earthquake rattled Ottawa, Montreal and Toronto, prompting evacuations of many downtown office buildings, shattering windows at Ottawa city hall and reportedly damaging stretches of road north of the capital. On Saturday and Sunday Hu attends the Group of 20 summit of top industrial and emerging economies, where he is expected to address two major issues of international interest: China's policy shift on its currency, which many nations believe is undervalued, and Beijing's stance on North Korea. A senior US official said Wednesday that President Barack Obama will hold talks with key Asian leaders, including Hu, on the sidelines of the summit.
earlier related report Hu will pay a three-day state visit to Canada before attending the weekend G20 meeting in Toronto, accompanied by central bank head Zhou Xiaochuan, commerce minister Chen Deming and others, the foreign ministry said. It will be his first international appearance since the central bank at the weekend pledged further reform of the yuan and also comes after a report in May blamed North Korea for the deadly sinking of a South Korean ship. The People's Bank of China's announcement on the yuan Saturday fuelled expectations that Beijing would loosen its grip on the currency. However, Beijing has doused hopes for a large revaluation sought by trading partners such as the United States, and Hu could face calls for a further commitment to free up the currency. World leaders "are going to want more reassurance and more details on what China has in mind", said Patrick Chovanec, an economist at Tsinghua University in Beijing. "They will want reassurances that this is a genuine commitment on China's part." Critics, especially in the US, say China keeps the yuan undervalued as much as 40 percent to protect exporters, costing Americans jobs. Members of Congress -- facing mid-term elections in November -- have threatened trade sanctions against China and have pushed for action at the G20. However, China's foreign ministry warned Tuesday against bringing the yuan up at the G20. Summit participants should avoid "playing the blame game and imposing pressure" over foreign exchange rates, ministry spokesman Qin Gang said. The yuan pledge initially was seen as reducing the chances of a G20 clash but China has already triggered renewed complaints by ruling out large swings in the currency or a one-off revaluation. On Tuesday, Beijing slightly adjusted its tightly controlled yuan trading band to allow the currency to strengthen against the dollar, in the first concrete step to deliver on the flexibility promise. But on Wednesday it went the other way, setting a weaker trading level. China has also been under pressure to join efforts to punish North Korea after the rogue communist state was accused of torpedoing the South Korean warship in March, killing 46 seamen. Seoul and Washington, citing a multinational probe last month that blamed the North, are seeking a UN resolution condemning Pyongyang. China, however, has refused to denounce North Korea -- which Beijing helps sustain through trade, economic aid and diplomatic support -- issuing only mild calls for restraint and giving no indication it would support UN action. Experts say China fears siding against Kim Jong-Il's government could destabilise it, potentially leading to regime collapse and a refugee crisis on its doorstep. China's position "exposes the hypocrisy" of its calls for world peace and good-neighbourliness, security experts Bonnie Glaser and Brad Glosserman wrote in a recent analysis. This position "will only encourage North Korean provocations and jeopardise the peace and security that China and other nations in Northeast Asia seek". But China has shown it is not immune to foreign pressure, voting this month for new UN Security Council sanctions on Iran over its nuclear programme. Western nations suspect Tehran is seeking to develop nuclear weapons, which it denies. China, Iran's key trade ally, had long resisted Western calls to back punishing Tehran, advocating negotiations instead. Qin would not confirm whether a meeting with US President Barack Obama would take place at the G20 in which Obama could press his demands. Hu, meanwhile, will likely meet Japan's new Prime Minister Naoto Kan and new British Prime Minister David Cameron for the first time. Before the summit, Hu will meet Canadian Prime Minister Stephen Harper, Qin said.
Share This Article With Planet Earth
Related Links The Economy
![]() ![]() Singapore (AFP) June 23, 2010 Asia-Pacific millionaires are collectively worth more than their European counterparts for the first time, with the rich in China and India leading the way, a study said Wednesday. More millionaires are expected to be minted in a region that has produced some of the world's richest people, including Hong Kong's Li Ka-shing and India's Mukesh Ambani, as Asia leads the recovery from the global ... read more |
![]() |
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2010 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |