Arab Today, arab today romney dismisses prospect of china trade war
Last Updated : GMT 02:24:13
Arab Today, arab today
Arab Today, arab today

Romney dismisses prospect of China trade war

Arab Today, arab today

Arab Today, arab today Romney dismisses prospect of China trade war

Washington - AFP

US presidential candidate Mitt Romney dismissed suggestions that he would start a trade war with China as he and President Barack Obama both vowed a firm line with Beijing. Romney and Obama, who have both talked tough on China, adopted a milder tone on the Asian giant at their final presidential debate on Monday as they both pledged cooperation with the rising power despite disagreements on trade. \"China\'s an adversary and also a potential partner in the international community if it\'s following the rules. So my attitude coming into office was that we are going to insist that China plays by the same rules as everybody else,\" Obama said at the debate in Boca Raton, Florida. Romney repeated his promise that, if elected, he would declare China to be a currency manipulator on his first day in office, charging that Beijing has kept its yuan artificially low to flood the market with cheap exports. Asked by moderator Bob Schieffer whether such a move would trigger a trade war between the world\'s two largest economies, Romney pointed to the gaping US trade deficit with China -- which stood at nearly $300 billion last year. \"It\'s pretty clear who doesn\'t want a trade war. And there\'s one going on right now, which we don\'t know about,\" Romney said. \"It\'s a silent one. And they\'re winning.\"Romney said that trade disputes with China went beyond currency rates. He recalled visiting a company that took in a faulty valve for repair under warranty and discovered that it had a duplicate serial number. \"There were counterfeit products being made overseas with the same serial number as a US company, the same packaging, these were being sold into our market and around the world as if they were made by the US competitor. This can\'t go on,\" Romney said. But Romney, who has sharply criticized Obama in the past as allegedly failing to stand up to the rising power, said that the United States and China \"don\'t have to be an adversary in any way, shape or form.\" \"I want a great relationship with China. China can be our partner. But that doesn\'t mean they can just roll all over us and steal our jobs on an unfair basis,\" Romney said. Under Obama, the Treasury Department has stopped short of declaring China a currency manipulator -- a step that could trigger retaliation against imports -- and has instead preferred behind-the-scenes diplomacy.Obama, while pledging to do more, said that China\'s currency rate was at its \"most advantageous point\" for US manufacturers since 1993 and that US exports have doubled since he entered office in January 2009. \"We absolutely have to make more progress, and that\'s why we\'re going to keep on pressing,\" Obama said. China has allowed its yuan to appreciate against the dollar by some 30 percent since 2005. While China has faced international pressure, many analysts say Beijing has largely been responding to inflationary pressure. Scott Paul, executive director of the Alliance for American Manufacturing, a group formed by leading manufacturers and the United Steelworkers union, said Romney was \"absolutely right on who has leverage in the US-China relationship.\" \"About one-third of Chinese exports end up in the US. Our consumer market is the best leverage we have. The idea of a trade war is nonsense,\" he said. Paul also praised Obama\'s focus on manufacturing in his remarks and said: \"It\'s clear that both candidates believe it is critically important that China play by the rules.\" Charles Franklin, a political science professor at the University of Wisconsin-Madison, said the currency manipulation question marked a rare point of \"real difference\" between Romney and Obama. But the issue is \"probably esoteric enough that it is hardly the primary motivation for voters going to the polls in November,\" he said. John Frisbie, president of the US-China Business Council, which is made up of companies that do business with the Asian power, said that the top priority to support the US economy should be action at home. \"Both presidential candidates have said they will \'get tough\' on China, but evidence has shown that the best way to make progress is through comprehensive engagement and legal actions -- not political rhetoric,\" he said.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today romney dismisses prospect of china trade war Arab Today, arab today romney dismisses prospect of china trade war

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU

GMT 16:23 2017 Sunday ,19 February

Global energy news

GMT 16:05 2017 Sunday ,19 February

Trudeau calls for wider social benefit from economy
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday