President Hu Jintao heads back to China on Friday, his state visit to Washington having underscored his country's status as the United States' top economic rival — or even its superior, by one economist's assessment.By traditional measures of gross domestic product — the value, in U.S.
For years now, China has kept strict control over its currency, leading the U.S. and other countries to accuse China of "undervaluing" the yuan. It's a claim China has consistently refuted.But this week, there was sign, albeit a small one, that China may be finally willing to loosen its grip.
While city and business leaders will roll out the red carpet for Chinese President Hu Jintao for his arrival this afternoon, others are mounting a less welcoming reception. Protesters from the ranks of democracy and human rights activists, adherents to the banned Falun Gong religion, and
“China will be the world’s largest economy, it hopes to change the world’s currency regime, and it certainly has the public relations advantage right now,” says Ted Fishman, a Chicago writer and author of “China, Inc.”
"Fewer Americans applied for unemployment benefits last week, suggesting hiring will pick up," the Associated Press writes.According to the Employment and Training Administration, 404,000 people filed first-time claims for the benefits, down by 37,000 from 441,000 the week before.The agency adds tha