China and US seal $45bn trade deals

The US has unveiled a series of commercial deals with China, as the countries' presidents meet for talks in Washington.

The White House said on Wednesday that China had committed to buying $45bn worth of exports from the US, including a $19bn deal for 200 Boeing air planes.

The deals will support up to 235,000 jobs in 12 US states, according to the White House. In addition to the Boeing deal, China will also invest in US exports from agriculture, telecommunications and technology companies, including General Electric, Honeywell and Navistar.

Barack Obama, the US president, said the four-day visit by Hu Jintao, his Chinese counterpart, was laying the foundation for deeper prosperity between their two nations.

"With this visit we can lay the foundation for the next 30 years,'' Obama said at a grand arrival ceremony outside the White House on Wednesday.

"We have an enormous stake in each other's success. In an interconnected world, in a global economy, nations including our own will be more prosperous and more secure when we work together."

'New progress'

Hu in return said that since Obama took office "our co-operation in various fields has produced fruitful results and our relations have achieved new progress."

He also said co-operation between the US and China should be based on mutual respect, and that the two countries should respect each others' interests and development paths.

Hu's comments suggested limits to the US ability to pressure China on issues ranging from the alleged undervaluing of the Chinese currency to Beijing's growing military power.

During his welcome speech, Obama touched upon one of the main areas of contention between the two nations, urging Hu to uphold human rights in his country.

"History shows that societies are more harmonious, nations are more successful and the world is more just when the rights and responsibilities of all nations and all people are upheld," Obama said.

As Hu arrived, hundreds of people outside the entrance to the White House chanted: "Stop the Killing, Free Tibet."

During Hu's visit, the two leaders are expected to discuss issues including trade, security and Taiwan.

Washington has consistently accused Beijing of undervaluing its yuan currency to obtain a trade advantage, and many Americans are blaming China, at least in part, for the high US unemployment rate.

Source : Aljazeera Agencies