SINGAPORE: The United States and China sparred over exchange rates at a meeting of Asia Pacific leaders yesterday, pointing to tricky talks ahead for President Barack Obama when he flies to China to address economic tensions.
The discord surfaced at a summit of the Asia Pacific Economic Cooperation (Apec) forum in Singapore when a reference to “market-oriented exchange rates” was cut from a communique issued at the end of two days of talks. An Apec delegation official said Washington and Beijing could not agree on the wording.