2010-11-08 17:36

US President Barack Obama's Asia journey aims to open up the Asian market, especially the Chinese market, as a measure to decrease the unemployment rate in the US, the Economic Observer reported on Monday, citing foreign media reports.

Obama arrived in Mumbai, India's second largest city, on Nov 6 at the start of his 10-day Asian tour including Indonesia, Republic of Korea and Japan.

The US President said on Nov 4 that his Asian tour will help US enterprises to expand in Asia, the world's fastest growing market, in order to create job opportunities in the US.

Analysts said although Obama's Asian tour does not include China, US trade policy towards China in the post-election period will change.

After the mid-term elections, US China policy will turn from focusing on renminbi exchange rate to urging China to further open up its market, said Jin Canrong, professor at Beijing-based Renmin University of China.

He said the US Democratic Party always puts more emphasis on reducing US imports to increase domestic job opportunities, so they will continue to press on the renminbi exchange rate. However, the US Republican Party sticks to expanding the export market, especially the Chinese market.