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MR. GIBBS:  Hans Nichols from Bloomberg.

Q    Thank you, Mr. President, President Hu.  President Obama, with your respect and permission, because of the translation questions, could I direct one first to President Hu?

PRESIDENT OBAMA:  Of course.

Q    Thank you.  

President Hu, first off, my colleague asked you a question about human rights, which you did not answer.  I was wondering if we could get an answer to that question.

And then also, on Capitol Hill, Senate Majority Leader Harry Reid, House Speaker John Boehner are not attending tonight’s state dinner.  Many on Capitol Hill see China as an economic threat.  What can you do to allay their fears?

PRESIDENT HU:  (As translated.)  First, I would like to clarify, because of the technical translation and interpretation problem, I did not hear the question about the human rights.  What I know was that he was asking a question directed at President Obama.  As you raise this question, and I heard the question properly, certainly I’m in a position to answer that question.  

President Obama and I already met eight times.  Each time we met, we had an in-depth exchange of views in a candid manner on issues of shared interest and on issues toward each other’s concerns.  And on the issues we have covered, we also discussed human rights.

China is always committed to the protection and promotion of human rights.  And in the course of human rights, China has also made enormous progress, recognized widely in the world.  

China recognizes and also respects the universality of human rights.  And at the same time, we do believe that we also need to take into account the different and national circumstances when it comes to the universal value of human rights.  

China is a developing country with a huge population, and also a developing country in a crucial stage of reform.  In this context, China still faces many challenges in economic and social development.  And a lot still needs to be done in China, in terms of human rights.  

We will continue our efforts to improve the lives of the Chinese people, and we will continue our efforts to promote democracy and the rule of law in our country.  At the same time, we are also willing to continue to have exchanges and dialogue with other countries in terms of human rights, and we are also willing to learn from each other in terms of the good practices.

As President Obama rightly put it just now, though there are disagreements between China and the United States on the issue of human rights, China is willing to engage in dialogue and exchanges with the United States on the basis of mutual respect and the principle of non-interference in each other’s internal affairs.  In this way, we’ll be able to further increase our mutual understanding, reduce our disagreements, and expand our common ground.

As for the latter question about the attendance at the state dinner by some Congress people, as to who will attend and who will not attend, and for what reasons, I think President Obama is certainly in a better position to answer that question.  (Laughter.)

PRESIDENT OBAMA:  Is that the question you want to pose to me, Hans?  (Laughter.)  You get one.

Q    I have a question about exports and jobs.

PRESIDENT OBAMA: Okay.

Q    You’ve just spoken about some of the deals that you’ve sealed here, about the importance of exports -- your own goal of doubling of exports to your job strategy.  At the same time you said there needs to be further adjustment in the exchange rate and the RMB is undervalued.

PRESIDENT OBAMA:  Yes.

Q    To what extent does China’s depressing of its currency affect your ability to grow jobs in this country and lower the unemployment rate?

PRESIDENT OBAMA:  Well, I think that it is important for us to look at the entire economic relationship, and the currency issue is one part of it.

The first time I met President Hu was in April of 2009.  And this was the first G20 summit that I attended, when we were in the midst of the worst financial crisis that we had experienced since the 1930s.  And even as we were trying to stabilize the financial system, what was absolutely clear was that we couldn’t go back to a system in which the United States was borrowing massively, consuming massively, but not producing and selling to the rest of the world, creating these huge imbalances that helped contribute to the crisis.  And that’s why we pushed and why the G20 adopted a framework that called for rebalancing the world economy.  

Now, that gives us some responsibilities.  We’ve got to save more in this country.  We’ve got to cut back on these huge levels of debt both in the private sector but also in the private sector.  It also means that there are structural reforms that we have to undergo to make ourselves more competitive in the world economy.  So, making sure that we have the best education system in the world, that we’re producing more engineers than lawyers, making sure that we have a handle on our fiscal problems, making sure that we’ve got a world-class infrastructure -- those are all important parts of us being competitive and being able to export.

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