Barack Obama meets Xi Jinping, Vice-President of China

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prabir ghose

16 February, 2012

It was an important meeting between two world leaders - the Vice President of China was welcomed into the White House by US President Barack Obama and the two discussed various methods of improving trade.

THE MEETING of the two world leaders Barack Obama, the President of the USA and Xi Jinping, the vice President of China in the White House should send out some signals on the changes in the way one of these nations view the other.

Obama has impressed on Xi Jinping that China should follow fair trade practices if it is serious about emerging as an important global player.

Apparently, due to the undervaluing of the Chinese Yuan, Chinese products come at a cheaper rate and, Chinese manufacturers get an unfair advantage. The import of goods into America is increasing but, there is no corresponding increase of exports from the US, reported BBC.

The US is seeking entry into the huge fast-growing consumer market of China but the existing systems of China do not assist them in this field.

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The net result is that while job opportunities are on the rise in China, the same cannot be said of the US. This imbalance needs to be set right.

US Vice President Joe Biden has made this clear by saying that the two nations could obviously have different ideas on various issues but, in the larger interest, they need to address all these concerns and evolve workable solutions.

India has seen the way Chinese products have invaded our markets – especially during festive seasons - the Diwali illumination lamps and lanterns, the syringe during Holi are examples. Then there are toys for children. All these come dirt cheap and are in great demand. In the bargain, the local manufacturers lose out on business.