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Title : Former US President Barack Obama Says He 'Could Not Have A Trade War' With China Due To The 2008 Financial Crisis
link : Former US President Barack Obama Says He 'Could Not Have A Trade War' With China Due To The 2008 Financial Crisis

Former US President Barack Obama Says He 'Could Not Have A Trade War' With China Due To The 2008 Financial Crisis

On a trip to China in 2009, Obama raised issues around “massive trade imbalances” and “China’s currency manipulation and other unfair practices” during a meeting with Wen Jiabao, then China’s premier. Photo: Xinhua 

SCMP: Barack Obama: ‘I could not have a trade war’ with China due to global financial crisis 

 * Former US president Barack Obama explains that he was ‘hamstrung’ on dealing with China’s trade policies by global economic meltdown 

 * Obama says he ‘had to make sure we did not start a trade war that tipped the world into a depression’, on the back of the global financial crisis of 2008-09 

Former US president Barack Obama has said he would have pushed China “much harder” on trade issues if it was not for the global financial crisis of 2008-09. 

China’s role in the global economic recovery from the crisis, caused in large part by defaults on subprime mortgages in the United States, “hamstrung” his ability to tackle China’s “mercantilist policies that violated international trade rules”, Obama said in remarks made to the The Atlantic, which expanded on similar themes in his new book, A Promised Land. 

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WNU Editor: China was not hamstrung by the 2008 financial crisis. IMHO that was the time to put maximum pressure to put pressure on China to change its trade/intellectual theft/ currency manipulation policies.

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