Today, President Obama is expected to announce a deal with China that involves nuclear security. Additionally, Boeing will announce contracts on the sale of jets to China as part of Chinese President Hu Jintao’s visit, an agreement that would reportedly stimulate American jobs.
Fox News explains:
The agreement to be signed by U.S. and Chinese energy officials during the visit of Chinese President Hu Jintao would establish a jointly financed nuclear security center in China. The senior administration officials, who spoke on condition of anonymity because they were not authorized to speak on the record before Obama’s announcement, said the agreement is an opening to expand security cooperation with China.
Likewise, Boeing will be completing contracts on the sale of nearly 200 jets today. The contracts have already been discussed publicly and some of the planes are already being produced. Fox News indicates that Obama and Hu will be announcing the finalization of the contracts today, but the exact cost of the agreements is undisclosed — though the White House has said it will be in the billions. An airline industry source predicts that the deal will support 100,000 jobs in the U.S..
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Both deals were addressed prior to Hu’s welcome ceremony at the White House on Wednesday morning, where he was greeted with full honors, red carpet, and a color guard. President Obama spoke briefly, declaring that America’s and China’s futures are intertwined:
We also know this: history shows that societies are more harmonious, nations are more successful and the world is more just when the rights and responsibilities of all nations and all peoples are upheld — including the universal rights of every human being.
Of course, the irony of Obama’s remarks is China’s horrific reputation as a violator of human rights, including political imprisonment and the torture and mass murder of members of the Falun Gong.
CNN notes:
The Chinese government’s bullying tactics at home and abroad in response to the Nobel awarded to Liu Xiaobo are sobering reminders of its zero tolerance for critical voices, and the engagement challenges posed by a leadership distrustful and afraid of its own people.
Hu asserts that America’s relationship with China should be based on “mutual respect,” suggesting limitations to how far the United States may impose itself on China on issues of currency and human rights.
Later today, both Obama and Hu are expected to hold a news conference, a proceeding with which Hu is unfamiliar. The conference — which has already been limited to four questions — will be followed by a State Department luncheon, and a state dinner tonight.
Despite the packed agenda, Fox News writes:
The nuclear security agreement is a key centerpiece of the visit as the Obama administration looks for ways to ease tensions between the two world powers and demonstrate cooperation in an area that has primarily been saved for U.S.-Russia relations.
The agreement entails training and improved security at nuclear facilities, the accounting of nuclear materials, joint exercises in response to nuclear disasters and terrorism, and the sharing of nuclear technology. Under the agreement, China and the United States will be opening up the nuclear security center in China to other Asian countries. It is agreed that the center, which was Hu’s idea, will be financed mostly by China, with the majority of the United States’ input being technology and knowledge.
In particular, the White House perceives China as a key component in the relationship between North and South Korea. Similarly, the administration views China as a significant player in Iran’s nuclear ambitions, as China is a U.N. Security Council member.
Hu Jintao’s much touted visit is expected to potentially ease tensions over the economy, trade, and security issues. The London Evening Standard explains:
American companies say China deliberately keeps its currency low in relation to the dollar. A low-priced yuan makes Chinese products cheaper in the US, and US products more expensive in China.
Prior to his visit, President Jintao criticized the Federal Reserve for its devaluation of the dollar, and called the U.S. dollar “a product of the past.” He also targeted the Federal Reserve for its decision to stimulate growth through huge bond purchases that would keep down long-term interest rates.
Federal officials have defended the practice, asserting that the intent is to bolster the economy of United States first and foremost.
Photo: President Barack Obama looks on as China’s President Hu Jintao (out of picture) speaks during their joint news conference, Jan. 19, 2011, in the East Room of the White House in Washington: AP Images
