In China, President Expected to Talk Currency

Monday, November 16, 2009

President Obama is in China today as part of a weeklong tour of Asian nations. When he meets with government officials, Obama is expected to ask China to revalue its currency. China has long pegged its currency, the yuan, to the U.S. dollar, which means that when the dollar drops — as it did last week — the yuan does also. That ensures that Chinese-made goods remain consistently cheap when compared with American-made products. It's got American manufacturers and some economists up in arms.

For a look at whether or not the president has any bargaining power with the single largest holder of American debt, we turn to David Barboza, Shanghai correspondent for The New York Times. Mary Kay Magistad, China correspondent for PRI's The World, has the latest on a town hall meeting that the President held with Chinese students.

Guests:

David Barboza and Mary Kay Magistad

Contributors:

Noel King

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