The financing terms for the $477 million deal required the U.S. to work with the Organization for Economic Cooperation and Development, a multilateral organization that monitors export-financing terms by developed countries—but not by China—to attempt to provide a level playing field.
The move is one of several challenges the Obama administration has made to China, the world's largest exporter, as its president, Hu Jintao, prepares to visit Washington next week.
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The Chinese President Hu Jintao is at the White House meeting with President Barack Obama. This in itself is a historic event. Hopefully the two of them can come to terms with the Chinese currency (Yuan) versus our U.S. dollar. Hopefully they come to a consensus to allow the U.S. to export more of our goods to their country rather than having all of their 'goods' being constantly imported into our country. Or on the other hand we could stop buying their goods and buy American made goods and put more U.S. workers back to work!! However, this is not likely to happen. One thing I think is scary is the Chinese government has purchased a lot of our U.S. bonds. I am no sure if this will play a part in what the two Presidents are meeting about.
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