China President Rebuffs Obama

    President Barack Obama meets with Chinese President Hu Jintao at the APEC Summit in Honolulu, Saturday, Nov. 12, 2011.  (AP Photo/Charles Dharapak)

    Charles Dharapak / AP Photo

    Could Jon Huntsman have done any better? In an exchange with Chinese President Hu Jintao in Hawaii today, President Obama’s call for China to let its currency rise in value was swiftly rebuffed. An White House adviser told reporters Obama told Hu that the U.S. was becoming “increasingly impatient and frustrated” about the artificially low yuan, which critics say gives an unfair advantage to Chinese exports. But Hu countered that America’s economic problems wouldn’t be helped by any changes to the yuan. Elsewhere, Obama achieved some success: He secured a framework with the leaders of eight nations to being developing a free-trade zone in the Asian Pacific.

    Read it at The Wall Street Journal