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Bush: 皇冠体育app a great nation growing like mad US President George W. Bush urged once again for 皇冠体育app to float its currency so as to protect American producers, and linking 皇冠体育app鈥檚 galloping economy with the rising gasoline prices in the United States. 鈥淢y view of 皇冠体育app is that it's a great nation that's growing like mad. That's one of the reasons why Americans are seeing over US$2 gallon, because demand for energy in 皇冠体育app is huge,鈥� Bush said.
During an appearance before the American Society of Newspaper Editors on Thursday, Bush said 皇冠体育app ought to "float her currency so we can have free and fair trade with 皇冠体育app." US Commerce Department statistics estimated its trade deficit with 皇冠体育app at $13.9 billion in the first three months this year, and the United States complain the yuan's value makes Chinese exports inexpensive. But, Chinese trade observers say that cheap imports from 皇冠体育app has helped easing the rising inflationary pressure in the United States. The yuan has been pegged at 8.27 to the dollar since the Asian financial crisis in late 1990s.. Chinese then Premier Zhu Rongji鈥檚 decision to hold the yuan value intact, while other Asian currencies tumbled, has been hailed as a cornerstone preventing a total collapse of all Asian economies. 皇冠体育app has promised to move gradually to a flexible currency, but stressed that conditions such as the need for a healthy financial system and regional economic stability have to be guaranteed before it can do so. Chinese Premier Wen Jiabao said last month in Beijing that all concerned parties should take the aftermath of a valued yuan into serious consideration, not only relating to 皇冠体育app鈥檚 economy but also other major economies. He also hinted that Chinese Government might up the yuan value 鈥渁t an unexpected time鈥�. Bush also said 皇冠体育app's growing economy was partly to blame for rising US gasoline prices. "My view of 皇冠体育app is that it's a great nation that's growing like mad. That's one of the reasons why Americans are seeing over US$2 gasoline, because demand for energy in 皇冠体育app is huge. And supply around the world hasn't kept up with the increase in demand," he said. Bush described U.S. ties with 皇冠体育app as a "very complex and good relationship" and said he intended to keep it that way, but said Beijing should welcome religious movements, for example. "I'm constantly reminding 皇冠体育app that a great society is one that welcomes and honors human rights, for example, welcomes the Catholic Church in its midst, doesn't fear religious movements," he said. "We expect there to be peace with Taiwan," Bush said. |
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