AFP: China tells US to fix its own economic problems - US trade deficit widened 1.2 percent in October to 57.8 billion dollars

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China tells US to fix its own economic problems - US trade deficit widened 1.2 percent in October to 57.8 billion dollars

China told the United States Wednesday to fix its own economic problems rather than deliver lectures, as the two sides warned at top-level talks here that protectionism threatened their trade ties. The United States came to the two days of talks on the outskirts of Beijing with a long list of complaints about China's economic and trade practices, with the value of the Chinese currency, the yuan, chief among its concerns. But China's vice minister of commerce, Chen Deming, said a weakening US dollar was a bigger global economic concern than the value of the yuan."(The yuan) is not the key issue. Currently my focus is more on the depreciation of the US dollar and its possible impact and repercussions for the world economy," Chen told reporters on the sidelines of the conference. "(The yuan) is not the key issue. Currently my focus is more on the depreciation of the US dollar and its possible impact and repercussions for the world economy," Chen told reporters on the sidelines of the conference.China told the United States Wednesday to fix its own economic problems rather than deliver lectures, as the two sides warned at top-level talks here that protectionism threatened their trade ties. The United States came to the two days of talks on the outskirts of Beijing with a long list of complaints about China's economic and trade practices, with the value of the Chinese currency, the yuan, chief among its concerns. But China's vice minister of commerce, Chen Deming, said a weakening US dollar was a bigger global economic concern than the value of the yuan. "(The yuan) is not the key issue. Currently my focus is more on the depreciation of the US dollar and its possible impact and repercussions for the world economy," Chen told reporters on the sidelines of the conference.

The US trade deficit widened 1.2 percent in October to 57.8 billion dollars, driven by record high oil prices and surging imports from China, the government said Wednesday.
The monthly trade report, showing a nine percent rise in Chinese imports, came after the opening of tense bilateral trade discussions in China marked by mutual accusations of protectionism. The US Commerce Department reported an October trad