When top US and Chinese officials meet on Monday for the first high-level talks of the Obama administration, the American complaints about China's currency that long bedevilled relations will barely be on the table.
For years, Washington alleged that Beijing unfairly manipulated its currency, the renminbi, to support exports, and demanded that China allow it to appreciate to force structural changes in its economy.
Humbled by the financial crisis and heavily reliant on Beijing to climb out of it, Washington has shifted gear, relegating the currency to a subset of its push for broader economic reforms in China.
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