{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-572d6a42.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-f4d0de30.css\" media=\"all\" /\u003e\n\u003cdiv data-title='British Chancellor of the Exchequer visits China, comments' data-url='/boclips/videos/5c54c1fcd8eafeecae1564e3' data-video-url='/boclips/videos/5c54c1fcd8eafeecae1564e3' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nBritish Chancellor of the Exchequer visits China, comments\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"30356011\" href=\"/search?publisher_ids%5B%5D=30356011\"\u003eCurated Video\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003e1. Wide exterior of UK Embassy entrance in Beijing2. Close up of bronze plaque outside embassy3. Wide of motorcade driving into embassy grounds4. George Osborne, British Chancellor of the Exchequer, walking in to speak with embassy...\u003c/span\u003e\n\u003cspan class='full-description hide'\u003e1. Wide exterior of UK Embassy entrance in Beijing\u003cbr/\u003e2. Close up of bronze plaque outside embassy\u003cbr/\u003e3. Wide of motorcade driving into embassy grounds\u003cbr/\u003e4. George Osborne, British Chancellor of the Exchequer, walking in to speak with embassy staff\u003cbr/\u003e5. Wide of embassy building\u003cbr/\u003e6. SOUNDBITE: (English) George Osborne, British Chancellor of the Exchequer:\u003cbr/\u003e\"Well, I think the currency issues should be set in a broader framework of the global imbalances which I think in part contributed to the crisis that the world went through in the last couple of years, and I think are very important for global growth going forward. So I don't think the currency can be separate from a bigger discussion about how deficit countries do their part to reduce their deficits and live within their means, and surplus countries like China, do their part to support global growth.\"\u003cbr/\u003e7. Wide of Osborne talking to journalists\u003cbr/\u003e8. SOUNDBITE: (English) George Osborne, British Chancellor of the Exchequer:\u003cbr/\u003e\"The fact that as the new chancellor the first official visit I've done is to China I think is also a sign of how seriously we take improving the economic ties between our two countries. And of course, it is very important that British companies and British products have free access to Chinese markets. And I actually think China and Britain can be allies in making a broader argument in the world against protectionism, and for free trade, because both our economies benefit when that happens.\"\u003cbr/\u003e9. Osborne getting into car\u003cbr/\u003e10. Close up of front of car\u003cbr/\u003e11. Wide of motorcade driving out of embassy\u003cbr/\u003eBritain's new Chancellor of the Exchequer George Osborne chose China for his first international visit en route to the G20 finance ministers' meeting in South Korea.\u003cbr/\u003eSpeaking at the UK embassy in Beijing on Thursday Osborne addressed the issue of the yuan's valuation.\u003cbr/\u003eWashington and other trading partners complain China's currency is undervalued, giving its exporters an unfair advantage. \u003cbr/\u003e\"I don't think the currency can be separate from a bigger discussion about how deficit countries do their part to reduce their deficits and live within their means, and surplus countries like China, do their part to support global growth,\" Osborne said.\u003cbr/\u003eTwo weeks ago President Hu Jintao told a high-level US delegation that China would implement currency reform at its own pace, comments seen as a strong sign that Beijing will not move any time soon to allow the Chinese yuan to rise against the US dollar.\u003cbr/\u003eThe yuan has been frozen against the dollar since late 2008 to help Chinese manufacturers compete amid weak global demand.\u003cbr/\u003eChina's largest bilateral trading relationship is with Europe however and the yuan is stronger against the euro - which it has not been frozen against - making China's exports less competitive in Europe. \u003cbr/\u003eBritain's currency, sterling, is not frozen against the yuan either.\u003cbr/\u003eBoth the yuan and protectionism will be on the agenda of the G20 finance ministers' talks.\u003cbr/\u003e\"I actually think China and Britain can be allies in making a broader argument in the world against protectionism, and for free trade, because both our economies benefit when that happens,\" Osborne said on Thursday.\u003cbr/\u003eTrade issues between China and the US have caused tension with both sides accusing the other of protectionism for certain products.\u003cbr/\u003eOn Tuesday China's commerce ministry said it 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