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The following article was published in our article directory on October 29, 2010.
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Rare Earth and the Exchange Rate as Long-term Focus

Article Category: Business

Author Name: Amanda xzh

Although China and ASEAN, Japan, Korea and other countries of the region's economic development is very important, but the United States within the United States in the economic field to introduce the many contradictions and struggles in Asia and complicate the situation. U.S. attempts to win the support of Asian countries to further safeguard their own interests.

Clinton met with Japanese Foreign Minister in Hawaii Maehara, and rare-earth issues on the bilateral talks. According to foreign media reports, after Hillary asked China to clarify specific rare-earth policy.

Japan and South Korea Economic Ministers Meeting canceled, and some foreign media immediately linked this issue with the earth and published reports: As the issue of differences in the rare earth, China canceled the meeting.

The day of the Chinese Foreign Ministry spokesman Jiang Yu denied the rumors, he said: The Chinese side during the series of meetings of East Asian leaders in Japan and South Korea Economic and Trade Ministers met in an appropriate form of a positive attitude, and the coordinator to actively cooperate with the coordination. It is understood that failure to meet this schedule because of three reasons.

Following the cessation of Chinese Rare Earth exports to Japan and later in Europe and America to stop the exports of rare earths. 26, White House spokesman Robert Gibbs said this at a press conference, the U.S. government may be in 11 months the Group of Twenty (G20) summit in Seoul to raise the issue. Core Tip: U.S. involvement in Asian affairs, was intended to blur the East Asia Summit and other regional cooperation mechanisms, in order to create opportunities for the United States to promote the Asia-Pacific cooperation, experts say, this strategy difficult to influence the overall situation of Sino-US game, betting on both sides of the regional countries will.

Gibbs said "We are concerned about the reports are true" if the U.S. government's security and economic authorities considered it necessary, "will not hesitate to earth in the G20 summit on the issue raised."

Chinese Foreign Ministry had said: control of rare earth resources is China's sovereign rights, in line with the relevant provisions of the World Trade Organization, does not violate China's WTO commitments. Limit the export of natural resources important to the common practice in all countries, accusing China in this regard is not justified.

The recent Sino-US exchange rate is another major topic of economic confrontation. Accused the renminbi undervalued, undermined the United States and other countries, exports and employment in the U.S. media on this issue the main theme.

In the just-concluded meeting of G20 finance ministers and central bank governors, the parties to reach a consensus, promised not to play the "rate war", not by the way devalue its currency to promote export trade. But the voice of criticism against the RMB does not eliminate this.

Thailand Development Research Foundation member and former Finance Minister plain bad Lung Sang Gan claims against the RMB exchange rate RMB appreciation has been slow in Southeast Asia caused some damage. Analysts pointed out that the East Asia Summit, the participating leaders of Asian countries to discuss the exchange-rate or will call for yuan appreciation.

TPP variables

Pan Pacific has been unknown Strategic Economic Partnership Agreement (TPP) East Asia leaders suddenly become a hot topic during the summit. This is a direct challenge to the ASEAN in regional economic cooperation in the dominant position.

Committee for Pacific Economic Cooperation Ministry of Foreign Affairs Yang Zerui Research Office, the author speculated that contribute much to the weakening of the current APEC, the United States may thrown APEC, switch to TPP.

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