Wen: China does not want a trade surplus with US

Premier Wen Jiabao told US President Barack Obama that China does not want a trade surplus with the US and wants to balance trade flows, striking what observers saw as a concilitory note without mentioning the countries’ currency rifts, the South China Morning Post reported. Wen’s comments are unlikely to reassure US industry groups and politicians that say the weak renminbi is encouraging a trade deficit with the US and worsening global economic imbalances. But Wen’s reassuring language, and praise for Obama in the state media, set an upbeat tone at the end of a four-day visit. Despite the positive rhetoric, analysts say Obama’s visit will not cause immediate policy shifts, or end friction over the renminbi, US anti-dumping rules and US criticism of Beijing’s definition of human rights.