Obama takes tough stand on China

Nov 14, 2011 | 06:11 PM | Catherine Ngai

Tags  China, U.S. trade war, currency manipulation, APEC summit, Asia-Pacific Economic Cooperation summit, Leo Gerard, USW, United Steelworkers

NEW YORK — President Obama pushed China to revalue its currency at a leadership summit over the weekend in one of his boldest moves yet to get the Asian nation to meet its political and economic responsibilities.

"There’s been a slight improvement over the last year, partly because of U.S. pressure, but it hasn’t been enough," Obama said Saturday during the Asia-Pacific Economic Cooperation (APEC) summit in Honolulu. "It’s time for them to go ahead and move toward a market-based system for their currency. The United States and other countries . . . feel that enough is enough." ....

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