Chinese Premier Wen Jiabao met with U.S. President Barack Obama in New York Sept. 23. At that meeting, Obama increased pressure on the Asian country to revalue its currency and warned that if “the Chinese don’t take actions, we have other means of protecting U.S. interests,” The New York Times reports, citing one of the the U.S. president’s top aides. Wen was unperturbed by Obama’s warning and insisted on his usual talking points that China is gradually reforming its currency, the newspaper adds.
Meanwhile, The Washington Post reports that China has recently moved to limit the export of rare minerals that are critical to the manufacture of various products including lasers, computers, car batteries and missiles. The alleged ban could give China economic leverage over the U.S. and underscores the Asian country’s efforts to try to translate this leverage into political power, the Post adds.