President Barack Obama leaves today on a trip to Asia that will lead to more US exports and jobs. The trip comes three days after his Democratic Party sustained big election losses tied to the weak economy. Obama will visit India, Indonesia, South Korea and Japan on a 10-day trek blending trade talk and other economic diplomacy with assurances to Asian allies worried by an increasingly assertive China. In India, Obama will attend a meeting along with US business leaders and will announce a comprehensive partnership including economic ties in Indonesia. He will also attend a G20 summit of global economic powers in Seoul and participate in an Asia-Pacific economic forum in Yokohama, Japan. Obama told reporters after a Cabinet meeting at the White House yesterday that the primary purpose of his visit is to take a bunch of U.S. companies and open up markets so that America can sell in Asia and will be able to create jobs back home. Aides say, Obama will raise the issue of China's yuan currency throughout the trip, as well as discuss North Korea's nuclear weapons and Chinese human rights when he meets with his Chinese counterpart during the G20. US officials say Beijing keeps the yuan's value low against the dollar to aid exports at the expense of US jobs. Regional tensions have also flared over territorial disputes and Chinese exports of rare earth minerals needed to make many high-tech products. Obama wants to double US exports in five years and the administration is working to remove obstacles to a long-stalled U.S.-South Korean free trade agreement in time for Obama's meeting with South Korean President Lee Myung-bak in Seoul.
News On AIR | November 5, 2010 12:09 PM
Obama leaves for trip to Asia