US President Barack Obama warned Beijing that its prosperity is based on Free Trade, and the stability provided by the presence of the US military in Asia even as he praised China's success.

At a press conference Wednesday with Hu Jintao, China's President, President Obama urged Beijing to end discrimination against US companies, allow its currency to appreciate and respect human rights, including in Tibet, and he stressed that China offered enormous opportunities for the US, saying: We want to sell you planes, we want to sell you cars, we want to sell you software.
Mr. Obama said China's success was a tribute to the Chinese people but also thanks to decades of stability in Asia made possible by America's forward presence in the region and a Global trading system championed by the USA.

Mr Hu's arrival in Washington coincides with a low in bi-lateral relations, with the 2 nations squaring off over diplomatic, economic and business issues.

Appearing at his 1st extended press conference in the West, Mr.Hu insisted Beijing wanted to work closely with the US on Global issues but said that ties should be based on Mutual Respect.

China is always committed to the promotion and protection of human rights, he said.

Hu and Obama, and some cabinet-level officials, held 3 hours of talks following a welcoming ceremony. They interrupted their talks to sit with business leaders from both countries to discuss commercial ties. -Paul A. Ebeling, Jnr. www.livetradingnews.com