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On Tuesday, a senior US Treasury official, Under Secretary Lael Brainard, said President Obama is going to push Chinese leader Hu Jintao to revalue the Chinese yuan.
According to a Reuters report, Obama will put pressure on Hu at the upcoming 2011 Asia Pacific Economic Cooperation—or APEC—meeting in November. APEC 2011 is hosted by the United States. Leaders from the 21 APEC countries will attend the summit, held in Honolulu.
Some US policymakers have accused the Chinese regime of purposefully undervaluing the yuan to give an unfair economic advantage to Chinese exporters.
