OBAMA IN CHINA

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– Urges partnership on Global Issues.

 

U.S. President, Barrack Obama, said on Monday a successful China was in the interests of the United States and the world, but Beijing had to be a partner in underwriting international order, and not undermine it. Speaking to growing concerns among U.S. and other companies about the Chinese business environment, after arriving in Beijing, Obama also urged China to reject the use of cyber theft for commercial gain and create a more level playing field where policy is not used for the benefit of some firms over others.

Obama’s trip to China for an Asia-Pacific summit comes at a time of growing China-U.S. friction with Washington trying to expand American interests in Asia while Chinese President Xi Jinping demonstrates more willingness than his predecessors to demonstrate Beijing’s clout on regional issues. The two countries have disagreed in recent months on a range of topics, including trade, maritime issues and cyber security, while the United States has lobbied against the setting up of a multilateral infrastructure investment bank sponsored by China.

In a deal that he said would improve trade and business ties between the world’s two largest economies, Obama announced that China and the United States agreed to significantly extend the length of short-term visas. But he also urged Beijing’s leaders to create a fair market place for foreign firms. “We look to China to create a more level playing field on which foreign companies are treated fairly, so that they can compete fairly with Chinese companies,” he said in a speech to business leaders at the Asia-Pacific Economic Cooperation (APEC) forum.

He urged China to move “definitively” to a more market-based exchange rate and to stand up for human rights and freedom of the press. Under the visa deal, which will take effect on Nov. 12, both countries would extend the terms of multiple entry short-term tourist and business visas to 10 years from one year, the White House said in a statement accompanying Obama’s announcement. Student visas would be extended to five years from one year. It will also make it easier for Chinese businesses and investors to get involved in U.S. projects.

Extracted and modified from Yahoo News.

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