The Chinese President Hu Jintao told President Obama that any change to the yuan will be made only for the benefit of domestic interests. He made it clear that if China is going to change the value of the yuan they will not do it because of pressure from the United States. President Hu Jintao stated that reform would come based on China's "own economic and social development needs". Congress has been trying to get the Obama administration to punish China for the exchange rate between the yuan and the dollar because of the high unemployment rate in the US. Jintao said to Obama that a rise in the yuan would not help the unemployment rates in America. He also told Obama that the Chinese government is not intentionally keep the yuan low to gain a trade surplus with the US, and told him that his government would only buy more US goods if Washington relxed controls on exports of high technology goods. The White House's stance on this issue is that there needs to be "a more market-oriented rate". Despite all of the resistance coming from the Chinese government about changing the value of the yuan, economists say that China will indeed re-value their currency by the end of the second or third quarter of this year.

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