China Currency Manipulation

While the White House has yet to release President Obama's schedule, expect President Obama and President Hu Jintao to discuss military ties, global economic health, climate change and human rights.

The bilateral talks, or G-2, between the U.S. and China have resulted in little substantive progress. This is because there is a continuing, inexplicable failure on the part of the U.S. with other countries to pressure China to curb its currency manipulation.

Going after China "aggressively" on its exchange rate policy would not be wise. It won't help address the job losses which have made this a hot issue, and it will strain relations with a major world power.