White House: Bush, Hu Jintao to meet September 7 – AFP

1000415 From AFP, via The China Daily:

China last month freed the yuan from an 11-year-old peg to the US dollar and allowed the unit to appreciate 2.1 percent.

Beijing’s thirst for foreign energy to power its economic emergence has also sparked concern : fierce opposition in Congress and elsewhere last month prompted China National Offshore Oil Corp (CNOOC) to abandon an 18.5-billion-dollar takeover bid for California firm Unocal Corp.

Washington and Beijing are also at trying to find a compromise in a row over rocketing volumes of Chinese textile shipments, which have sparked fresh trade tensions.

Secretary of State Condoleezza Rice said in an interview published in The New York Times last week she had told Chinese leaders in recent meetings that they should take note of unrest in Congress about Sino-US relations.

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