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Obama takes on economic woes during China visit

President Barack Obama wrangled over trade and currency policy withhis Chinese counterpart Hu Jintao yesterday, with Iran and North Koreacompeting for attention at the summit of the two global powers.<p></p>

President Barack Obama wrangled over trade and currency policy with his Chinese counterpart Hu Jintao yesterday, with Iran and North Korea competing for attention at the summit of the two global powers.

The future of the Chinese yuan currency is expected to be on the agenda, following days of testy exchanges over what Washington says is a serious undervaluing of the currency stoking global economic imbalances.

Hu has shown little patience for criticisms of Beijing’s currency policy, and he and other Chinese officials have instead dwelt on what they have called the protectionist impulses and lax fiscal policies of the United States.

Obama and Hu will have a crowded agenda, underscoring the breadth and complexity of ties between their countries — respectively the world’s biggest and third biggest economies.