Obama Bows while Hu Stiffs Him

President Obama bowed to Chinese President Hu while they shook hands at the beginning of the April 12-13 Nuclear Security Summit in Washington. President Hu did not bow back. The rest of the summit played out the same relationship. First, Hu rejected Obama's request that China stop using currency manipulations to steal American industry. At a press conference, President Obama tried to paper over the slight. He said,With respect to the currency issue, President Hu and I have had a number of frank conversations. As part of the G20 process we all signed on to the notion that a rebalancing of the world economy would be important for sustained economic growth and the prevention of future crises. And China, like the United States, agreed to that framework. We believe that part of that rebalancing involves making sure that currencies are tracking roughly the market and not giving any one country an advantage over the other.Next, Hu stiffed Obama's request for sanctions against Iran. Instead,...(Read Full Article)