The role that US plays in Asia

Sino-US ties were in focus at the recent Asia-Pacific Economic Cooperation (APEC) summit in Honolulu and the just concluded East Asia Summit (EAS) in Bali, especially because of the European economic and political crises. It was not a good time for US President Barack Obama to attend the EAS, given the unstable state of the American economy, and the Congressional super committee's failure on the federal budget.

The frictions between the United States and China - from the yuan's exchange rate to the South China Sea disputes - are nothing new. But the problem now is that the two countries seem unable to narrow their perception gap.

Obama met with Premier Wen Jiabao twice during the EAS to say that China should allow the yuan to revalue more rapidly. At the APEC summit in Hononulu, Obama had complained to President Hu Jintao that the yuan was undervalued and said it "disadvantages American business; it disadvantages American workers. And we have said to them that this is something that has to change".