Create Fair Market for Foreign Firms: Obama to Beijing

  • US president Barack Obama on Monday said his country “welcomes rise of a prosperous, peaceful and stable China“.
  • “Our message is that we want to see China successful.But, as they grow, we want them to be a partner in underwriting the international order, not undermining it,“ said Obama, who is in China for the Asia Pacific Economic Cooperation (APEC) summit.
  • He urged Chinese leaders to create a fair market for foreign firms. “We look to China to create a more level playing field on which foreign companies are treated fairly ,“ he said. He added the US was looking to China to “move definitively toward a more market-determined exchange rate“ and “to stand up for human rights and freedom of the press“.
  • Obama said he would raise the issues with Chinese leader Xi Jinping.“We suggest that China do these things for the sake of sustainable growth in China and the stability of the AsiaPacific region,“ said Obama, who sported a Chinese dress along with 20 APEC leaders at a dinner.
  • The US is likely to expand scope of its Trans-Pacific Partnership (TPP) to include China.
  • Obama separately signed an agreement with Chinese president Xi Jinping expanding visa facilities for Chinese citizens from one to 10 years.