Free Republic

Some of Mr. Hu's most significant comments dealt with the future of the dollar and currency exchange rates. "The current international currency system is the product of the past," he said, noting the primacy of the U.S. dollar as a reserve currency and its use in international trade and investment. The comment is the latest sign that the dollar's future continues to concern the most senior levels of the Chinese government. Beijing fears not only that loose U.S. monetary policy is fueling inflation, but that it will erode the value of China's holdings of dollars within its vast foreign-exchange reserves,...

CHINA’S President suffered the embarrassment of being heckled for more than a minute on the White House lawn yesterday by a protester who accused him of persecution.The arrival ceremony for Hu Jintao was interrupted by a woman from the banned Falun Gong religious movement. She began shouting from the top of a camera stand directly in front of President Bush and his guest. “President Bush, stop him from killing,” she shouted. “Stop persecuting the Falun Gong. . .President Hu, your days are numbered. No more time for China’s ruling party.” The incident occurred immediately after Mr Bush urged President Hu...

Chinese President Hu Jintao told President Bush that China remains committed to a plan to allow its currency to float freely against the dollar, a senior U.S. administration official said. The talks apparently satisfied Bush, who summarized the economic discussions as an effort "to make sure the relationship is fair and equitable on both sides." Earlier Saturday, People's Bank of China Governor Zhou Xiaochuan said that while China wants to move to a more liberal exchange rate regime, now isn't the time to discuss specifics. China could widen the trading band for the yuan against the dollar, but Zhou said...