Hu Jintao, China’s president, defended Beijing’s currency policy, telling a business audience in Washington that the Chinese economy had helped create 14m jobs around the world through its growing imports, write Richard McGregor and Geoff Dyer in Washington.
Speaking on Thursday after US congressional leaders pressed complaints about the Chinese currency being undervalued, Mr Hu also said that the export of “quality and inexpensive” products had saved US consumers $600bn, although he did not specify over what time period.
After President Barack Obama stressed on Wednesday the role that the US military presence had played in underpinning prosperity in Asia, Mr Hu said that the two countries should co-operate more closely in the region.
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