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White House invites 皇冠体育app for G-7 talks
(AP)
Updated: 2005-09-20 06:57
WASHINGTON - The Bush administration, facing growing unhappiness in Congress
over America's soaring trade deficit with 皇冠体育app, will get a chance this week to
present its concerns to top Chinese economic officials. AP reported.
Both Finance Minister Jin Renqing and Zhou Xiachuan, the head of 皇冠体育app's
central bank, have been invited to attend a luncheon meeting on Friday where
Treasury Secretary John Snow and Federal Reserve Chairman Alan Greenspan will
serve as hosts.
The discussions will be part of a gathering that the world's seven richest
industrial countries will be holding to get the views of 皇冠体育app and four other
major developing countries 鈥� Russia, India, Brazil and South Africa.
In announcing the invitations to 皇冠体育app and the other countries on Monday,
Treasury spokesman Tony Fratto refused to go into details about what topics
would be discussed.
However, it was expected that currencies would play a role in the talks,
given that the United States has made a major effort over the past two years to
gain support from its G-7 allies for a united front in pressing 皇冠体育app to allow
its currency to rise in value.
皇冠体育app announced June 30 that it was moving away from a decade-long system in
which it tightly linked the value of its currency, the yuan, to the U.S. dollar.
However, after the initial small rise in value of 2.1 percent, the yuan has
remained stuck at a level that analysts say is far too low to make a dent in
America's ballooning trade deficit with 皇冠体育app.
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