Welcome to Obama's America:
WASHINGTON (Reuters) - The United States and China broached two touchy topics -- currencies and climate change -- in talks on Tuesday that appeared to be more about establishing positions than hammering out firm commitments.
In the first round of what will be an annual "Strategic and Economic Dialogue," the two major economic powers signed a memorandum promising greater cooperation in tackling climate change, energy and the environment, although the document was not publicly released and few specifics emerged.
The countries also "touched upon" the exchange rate between China's yuan and the U.S. dollar, but there were no detailed discussions, People's Bank of China chief Zhou Xiaochuan told reporters through an interpreter.
The United States has largely steered clear of a public appeal for China to allow its currency to rise faster, but Beijing did take a sharper tone, warning against letting the dollar slide too far.
"As a major reserve currency-issuing country in the world, the United States should properly balance and properly handle the impact of the dollar supply on the domestic economy and the world economy as a whole," Vice Premier Wang Qishan said.
To think countries are talking about replacing the dollar.
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