Us-china Relations, Chinese Currency | featured news

It sounds like President Obama and Mitt Romney are now competing to see who can be tougher on China. While Romney has vowed to brand China a currency manipulator on "day one" of his presidency, Obama this week played up a new complaint against China with the World Trade Organization during his tour of Ohio.

The Senate on Tuesday approved a bill aimed at pushing China to let its yuan currency rise in value in the hope of saving American jobs, sending it to the House of Representatives where its fate is uncertain.

WASHINGTON (Reuters) - Chinese President Hu Jintao urged an end to a "zero sum" Cold War relationship with the United States and proposed new cooperation, but resisted U.S. arguments about why China should let its currency strengthen.

Concluding that China has little intention of working with the United States on issues like currency, trade and security, the administration is building coalitions to confront China.

The Obama administration backed away on Friday from a showdown with Beijing over the value of China's currency that would have caused new frictions between the world's only superpower and its largest creditor.

Treasury Secretary Timothy Geithner will visit Beijing on Thursday for talks with a Chinese vice premier for economic affairs, ...