::U.S and China Agree on Trade Agreement USD45 Billion>>

Go Finance Reporting - United States (U.S.) and China announced a number of trade agreements worth USD45 billion. Working together it signifies the efforts of two countries who are trying to narrow the economic strife.

The deal was presented during the U.S. President Barack Obama and Chinese President Hu Jintao met on Wednesday (1/19/11) in Washington. In the meeting at least 70 trade agreements agreed upon by the exporters from 12 U.S. states and the Chinese business delegation.

Obama expressed his hope that relations with China may signal a change to put aside the "old stereotypes" that allows U.S. companies easier company to benefit from China's economic growth.

"I truly believe that 'peace' China is good for the world, as well as for America," Obama said, quoted by AFP on Thursday (01/20/2011).

Obama added that cooperation package worth USD45 billion will be supporting 235 billion in U.S. jobs. But he also stated that there were still several obstacles "in the field" for U.S. companies refer to the disputes that often arise as a result of China's growing economic power.

Obama also called again the need for faster yuan strengthening against the dollar to reduce the low value of Chinese exports are artificially. But Hu responded that call by declaring that China will focus more on domestic growth which led the economy.

Chinese Vice Foreign Minister Cui Tiankai said the policy change Beijing's currency exchange rate will not change substantially because China will implement the policy gradually and carefully.

But the currency issue is expected to far from the reach of both countries who are economists continue to compete it. Obama and Hu chose to focus on trade agreements, including a massive order of 200 units of Boeing aircraft valued at USD19 billion.

The deal is one of the largest commercial transactions in the commercial airline business after competitors from Europe, namely Airbus, agreed on the procurement of aircraft valued at $ 15, 6 billion to airlines IndiGo India.

Evidence of economic cooperation focus of US-China seen from the presence of a number of U.S. business leaders at a dinner at the White House on Wednesday (19 / 1) local time, including Chief Executive Officer (CEO) Jim McNerney Boeing, Microsoft CEO Steve Ballmer, CEO of Goldman Sachs Lloyd Blankfein and General Electric CEO Jeff Immelt.

Analysts said the presence of U.S. businesses that are evidence of the relationship would be the emergence of business relationships quickly and deeply between the U.S. and the State Panda.

"It's part of the preparation. But it is very important given the political context between China and the U.S.," said Yukon Huang, an expert on Asia at the Carnegie Endowment for International Peace. (GoFinance)