U.S. News
Hu Jintao in Washington: Symbolism or Substance?
January 18, 2011
(3:25)
Chinese President Hu Jintao is in Washington with a weighty agenda to discuss with President Obama, but is it all talk and no substance?
ADVERTISEMENT
TRANSCRIPT
(Image source: Wikimedia Commons)
BY CHRISTINA HARTMAN
You're watching multisource U.S. news analysis from Newsy
It's an East versus West rivalry long touted in the international press...
"There's no denying that tensions between China and the United States has been escalating..." (RT)
Chinese President Hu Jintao is in Washington on a four-day visit. The agenda is chock-full of weighty issues like economic policy, military development, human rights, and tensions on the Korean peninsula. (Video from: Yale University)
And the White House is rolling out the red carpet. This at a time widely considered a new low point in China-U.S. relations -- with Washington power players accusing their Chinese counterparts of "manipulating" currency in order to keep the yuan artificially low.
On Bloomberg, a former Lehman Brothers Asia president says U.S. businesses for the most part are doing well in China -- but that growth opportunities have been capped.
STEPHEN ORLINS, FRMR PRES. LEHMAN BROS.: "There used to be tax incentives for foreign businesses in China. Last year that was equalized with domestic companies. Foreign entities are now taxed at the same rate as a Chinese entity."
Economists predict China could surpass the U.S. economy as soon as 2025 -- considering its breakneck speed of 9.6 percent growth last year. The U.S. economy is still three times bigger than China's -- but the prospect of a reversal of global fortunes has strained relations between the two countries.
But what they don't understand, writes The Business Insider's Peter Stock, is that they need each other:
"...what's good for one is also good for the other when it comes to shaping trade policy. … I would recommend that President Hu propose to President Obama that we begin the process of creating a free trade agreement … the goal of which is to help remove the trade imbalances that exist between our two countries..."
Another point of contention - Washington has said Beijing needs to take a stronger stance against North Korea, which stands accused of sinking a South Korean Navy corvette in 2010. U.S. and South Korean leaders have urged China to reprimand its ally to the North and discourage heightened tensions on the Korean peninsula. (Video from: Asian Correspondent)
But as South Korea's JoongAng Daily suggests -- the South doesn't expect this meeting to change China's mind.
"...Hu's tone suggests he and U.S. President Barack Obama may come to a symbolic but insubstantial agreement on Korean issues when they meet in Washington on Wednesday."
Compare that to a rosier picture of U.S.-China relations painted by China's state-owned Xinhua News.
"...the two countries have seen ... strong wish and will to enhance cooperation, more interests convergence, wide and deep participation ... and coordination on major international and regional issues, unprecedented in all aspects..."
China budgeted a nearly 15 percent spike in military spending in 2009 - but Chinese officials say U.S. concerns about China's developing military are misplaced. A CNN correspondent sat down with China's vice minister of foreign affairs - who says China's military is not a threat.
JAIME FLORCRUZ: "Why does China need to develop, say, aircraft carriers and stealth jet-fighters?"
CUI TIANKAI: "May I ask you, why do you have so many [of them]?"
Finally - in any case - China will see a transfer of power to a new Premier in 2012 - andIndia's NewsX suggests that means any promises Hu might make to President Obama - won't and can't stick.
"And his days are numbered. In 2012 he's meant to hand over to this man -- President-in-waiting Ji Jinping. Ji is known to be redder than the reds, so can he remake the CCP into the one-man show it was under Chairman Mao?"
Another point of contention - Washington has said Beijing needs to take a stronger stance against North Korea, which stands accused of sinking a South Korean Navy corvette in 2010. U.S. and South Korean leaders have urged China to reprimand its ally to the North and discourage heightened tensions on the Korean peninsula. (Video from: Asian Correspondent)
But as South Korea's JoongAng Daily suggests -- the South doesn't expect this meeting to change China's mind.
"...Hu's tone suggests he and U.S. President Barack Obama may come to a symbolic but insubstantial agreement on Korean issues when they meet in Washington on Wednesday."
Compare that to a rosier picture of U.S.-China relations painted by China's state-owned Xinhua News.
"...the two countries have seen ... strong wish and will to enhance cooperation, more interests convergence, wide and deep participation ... and coordination on major international and regional issues, unprecedented in all aspects..."
China budgeted a nearly 15 percent spike in military spending in 2009 - but Chinese officials say U.S. concerns about China's developing military are misplaced. A CNN correspondent sat down with China's vice minister of foreign affairs - who says China's military is not a threat.
JAIME FLORCRUZ: "Why does China need to develop, say, aircraft carriers and stealth jet-fighters?"
CUI TIANKAI: "May I ask you, why do you have so many [of them]?"
Finally - in any case - China will see a transfer of power to a new Premier in 2012 - andIndia's NewsX suggests that means any promises Hu might make to President Obama - won't and can't stick.
"And his days are numbered. In 2012 he's meant to hand over to this man -- President-in-waiting Ji Jinping. Ji is known to be redder than the reds, so can he remake the CCP into the one-man show it was under Chairman Mao?"
President Obama and Mr. Hu will have a working dinner Tuesday night -- and a formal welcoming ceremony Wednesday morning.
Get more multisource video news analysis from Newsy
Transcript by Newsy
No comments:
Post a Comment