I will also raise important trade issues on Sunday during my meeting in Beijing with President Hu of China. Access to American markets has played an important role in China's economic development. And China needs to provide a level playing field for American farmers and businesses seeking access to China's market. The United States supported China's membership in the World Trade Organization because we believe that the cause of free and fair trade is advanced if China plays by the same global rules as everyone else.
When I met with President Hu in New York earlier this year, he said that China would bring more balance to our trade and protect intellectual property rights. I welcomed those commitments, just as I welcomed China's announcement in July that it would implement a flexible market-based exchange system for its currency. These statements are a good beginning, but China needs to take action to ensure these goals are fully implemented.
The textile agreement our two nations recently reached shows that with hard work and determination, we can come together to resolve difficult trading issues. The agreement adds certainty and predictability for businesses in both America and China. I look forward to frank discussions on Sunday with President Hu about our need to find solutions to our trade differences with China.
America is drawn by trade and values and history to be part of Asia's future. The extraordinary economic growth of the Asia Pacific region has delivered prosperity to millions of people, and it has created many new opportunities for American workers, farmers, and businesses. America is a nation founded on the idea of open exchange. And we know that free and fair trade benefits all sides.
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