On US visit, China’s Xi vows not to manipulate currency

Jaswinder Singh Baidwan

Akhran da mureed
Staff member
Chinese President Xi Jinping, facing a sceptical audience on the first day of a week-long US visit, sought to reassure business and government officials on Tuesday over a long list of irritants, from economic reform to cyber attacks, human rights and commercial theft.
Xi, delivering a keynote address to some 650 business executives and other guests in Seattle, touched on a litany of issues that have strained US-China ties.
China will not manipulate its currency to boost exports and will never engage in commercial theft, he said, adding it will not discriminate against foreign businesses, will speed its market opening and make efforts to improve human rights. “If China and the US cooperate well, they can become a bedrock of global stability...,” Xi said. “Should they enter into conflict or confrontation, it would lead to disaster for both countries and the world at large.”
However, despite his reassuring comments, Xi faces questions about actual government policies. He will likely be pressed for specifics as he attends a black-tie state dinner at the White House hosted by President Barack Obama on Friday.
About 100 people gathered in downtown Seattle earlier on Tuesday to protest against human rights abuses in China, the first of what could be a series of demonstrations against Xi’s visit. Xi’s US visit ends with an address at the UN.
Cyber spying accusations
Responding to allegations that China has been behind cyber attacks affecting US business and government databases, Xi reiterated that China, too, had often been a victim. “The Chinese government will not in whatever form engage in commercial thefts or encourage or support such attempts by anyone,” Xi vowed.
White House officials said cyber spying would be a key part of discussions between Obama and Xi, but they did not expect the US to level economic sanctions against China for cyber espionage ahead of Xi’s arrival in Washington.
‘No house of cards’
Xi’s meetings with Obama and US business leaders offer the chance to bolster the President’s stature at home, building on a high-profile military parade earlier this month to mark the end of World War-II, while deflecting attention from China’s recent stock market rout, slowing economy and a chemical explosion at a Tianjin warehouse that killed more than 160 people.
Xi said the Chinese people supported his anti-corruption campaign. “There is no power struggle in this. There is no House of Cards,” Xi said, drawing laughter from the audience with his reference to the popular US political drama.
Among the few agreements expected to result from the Obama-Xi summit has been a confidence-building plan aimed at reducing the risk of aerial collisions between warplanes in areas such as the South China Sea through adoption of common rules of behaviour.
 
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