Editor's Note: This story was originally published Jan. 12 - We are reposting in light of Hu's visit with Obama commencing today. Please see video SNL video below.
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(Reuters) - China would welcome assurances its financial assets in the United States are safe, a senior diplomat said on Wednesday, ahead of President Hu Jintao's visit next week, but played down rifts between the two powers.
Chinese Vice Foreign Minister Cui Tiankai said North Korea and other issues that need the two global giants to work together would also come up during Hu's January 18-21 trip. Hu will hold talks with President Barack Obama on January 19.
While Obama is certain to press Hu on currency controls, which many in Washington say keeps the yuan unfairly cheap and contributes to the U.S. trade deficit, Cui said Beijing had its own concerns about safety its big holdings of U.S. treasury debt.
China has amassed the world's biggest stockpile of foreign exchange reserves at $2.85 trillion, an estimated two-thirds of which is invested in the United States.
"Regarding the security of China's assets in the United States, if the U.S. side can offer a positive statement on that then of course we'd welcome that, and it's an issue we're paying attention to," Cui told reporters.
Underscoring China's sensitivity to the issue, an academic adviser to its central bank, Xia Bin, told Reuters that global financial markets are better off with a balance between the dollar and euro, as opposed to having only dollar dominance.
China often seeks assurances on the security of its U.S. investments before any high-level meetings with Washington.
For two years, Chinese Premier Wen Jiabao has used his most important press conference of the year to say he is worried about the safety of China's U.S. investments.
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You gotta see this one...
Very funny skit on the national debt. It starts out slowly, but the jokes kick in after a minute or so.
- "You are not allowed to pay us back in clunkers."
- "Do I look like Mrs. Obama? Then why you are trying to do sex to me like Mrs. Obama."
Saturday Night Live annihilates Obama in a mock presser with Chinese President Hu Jintao and his unique interpreter.
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