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Obama to target yuan again (2)

By Yang Jingjie (Global Times)

09:03, November 11, 2011

Lu Jianren, a researcher with the Institute of Asia-Pacific Studies (IAPS) at the Chinese Academy of Social Sciences, told the Global Times that Hu is likely to repeat his warning to Western countries over the issue made during the G20 summit in Cannes last week, and that China would stick to its position on the value of the yuan.

Rhodes' remarks came shortly after US authorities opened an investigation into whether China sells solar panels in the US at unfair prices. China's Ministry of Commerce expressed grave concerns and dissatisfaction over the probe on Wednesday.

"As a big producer of environmental technology, the US hopes to sell its green technology products to developing countries. China is at a different stage of development, and its local green-tech companies cannot reach the US standard. Both sides should solve the disagreement through negotiations," Lu said.

As one of the topics of the APEC summit, Washington is proposing that APEC members pledge tariff cuts on environmental goods and services, such as solar panels, wind and hydraulic turbines, to five percent by the end of 2012, and slash energy intensity by half the 2005 levels by 2035.

Assistant Foreign Minister Wu Hailong said Monday that APEC members generally hold positive attitudes toward US proposals in various fields such as green growth and innovation policy.

"But some of the outcomes expected by the US are beyond the capacity of the developing members, and they have expressed their difficulties and concerns," Wu said.

Another major issue at the summit will be the Trans-Pacific Partnership (TPP) trade deal. Nine countries - the US, Australia, New Zealand, Vietnam, Malaysia, Singapore, Brunei, Chile and Peru - are expected to say Saturday that they have reached the broad outlines of the TPP.

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Chung at 2011-11-11175.140.147.*
Washington is not just double-standard but triple-standard!

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