This week Presidnet Hu Jintao of China will travel to Washington to meet with President Obama to discuss many high level issues with economic, defense and foreign policy sure to be high on the list.
The trip by the Chinese leader has already taken a controversial tone with the Chinese president suggesting that the global community move away from the U.S. dollar-dominated currency system a "product of the past" highlighted moves to turn the yuan into a global currency. This highlights differences by Washington which has accused China of unfairly boosting its exports by undervaluing its currency, therefore making its exports cheaper and U.S. exports more expensive.
Many of the topics to be discussed will no doubt be on trade and the volatile situation in Korea.
This coming year the president will face challenges at home and abroad as he tackles economic and foreign policy challenges. The debt should be his primary concern.
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