US, China Talk Trade and Currencies

Government officials from both countries met this week in Washington for the third U.S.-China Strategic and Economic Dialogue. China asked the U.S to lead an international economic recovery, but it may have been a hard sell considering that China’s trade statistics, also released this week, show the country’s exports hitting record levels, but its imports lagging. China’s trade surplus from the first quarter of 2011 is at $11.43 billion –  fueling concerns by the U.S. and other countries that China is using its weak currency to claim a large share of global job creation. The U.S. pushed China to appreciate its currency, and support the flow of American imports to China. Joining us to explain why that would not only be good for the American economy, but also for the Chinese is Louise Story, Wall Street and finance reporter for The New York Times.