Obama: China knows it cannot sustain export-driven growth modelWASHINGTON (Reuters) - U.S. President Barack Obama on Monday said China recognized it could not sustain an export-driven growth model indefinitely but that it would take time to change. Speaking to state governors at the White House, Obama urged them to press the U.S. Congress to approve the Trans-Pacific Partnership trade pact to boost U.S. exports in a region where China is “the 800-pound gorilla.” Obama said it was tempting for China to try to solve its short-term problems by dumping state-subsidized goods into the U.S. market but said his administration had made clear to China that would not work, Obama said. “They recognize that they can’t forever sustain an export-driven growth model, but it’s going to take some time and it’s tempting for them to solve short-term problems by just dumping a bunch of state-subsidized goods into the U.S. market,” Obama said in response to a question raising concerns about China’s exports of iron ore. “We’ve been very clear with them about the fact that that’s not going to work, and we’re going to put in place tools to make sure it doesn’t work,” he said. Obama also said the United States had made clear China needed to have an orderly market-based currency system that did not advantage its companies over their U.S. counterparts. “Right now, frankly, their intervention is to prop up their currency rather than to devalue it, because a lot of people have been nervous about the Chinese economy,” he said. Obama told the governors he was “cautiously optimistic” that Congress ultimately will back the 12-nation TPP trade pact, which labor unions oppose because of what Obama called “emotions” about job losses from past trade deals. “Our concern there was that China was the 800-pound gorilla. And if we allowed them to set trade rules out there, American businesses and American workers were going to be cut out,” he said.  Obama said he would have to rely on votes from “a set of strong pro-trade Democrats” in Congress as well as Republicans. But Obama acknowledged that Republicans have also “some concerns along the margins” of the TPP, such as provisions affecting tobacco, and said the campaign for the Nov. 8 presidential election has “roiled” the debate in both parties. Senate Majority Leader Mitch McConnell, a Republican, has said he has “some problems” with the TPP and does not think it should be pursued before the election. politicsNews
obama china knows sustain growth modelwashington reuters president barack obama monday said china recognized could sustain growth model indefinitely would take time change speaking state governors white house obama urged press congress approve partnership trade pact boost exports region china obama said tempting china try solve problems dumping goods market said administration made clear china would work obama said they recognize forever sustain growth model going take time tempting solve problems dumping bunch goods market obama said response question raising concerns china exports iron we clear fact going work going put place tools make sure work said obama also said united states made clear china needed orderly currency system advantage companies counterparts right frankly intervention prop currency rather devalue lot people nervous chinese economy said obama told governors cautiously optimistic congress ultimately back tpp trade pact labor unions oppose obama called emotions job losses past trade deals our concern china gorilla and allowed set trade rules american businesses american workers going cut said obama said would rely votes set strong democrats congress well republicans but obama acknowledged republicans also concerns along margins tpp provisions affecting tobacco said campaign presidential election rolled debate parties senate majority leader mitch mcconnell republican said problems tpp think pursued election politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Obama: China knows it cannot sustain export-driven growth modelWASHINGTON (Reuters) - U.S. President Barack Obama on Monday said China recognized it could not sustain an export-driven growth model indefinitely but that it would take time to change. Speaking to state governors at the White House, Obama urged them to press the U.S. Congress to approve the Trans-Pacific Partnership trade pact to boost U.S. exports in a region where China is “the 800-pound gorilla.” Obama said it was tempting for China to try to solve its short-term problems by dumping state-subsidized goods into the U.S. market but said his administration had made clear to China that would not work, Obama said. “They recognize that they can’t forever sustain an export-driven growth model, but it’s going to take some time and it’s tempting for them to solve short-term problems by just dumping a bunch of state-subsidized goods into the U.S. market,” Obama said in response to a question raising concerns about China’s exports of iron ore. “We’ve been very clear with them about the fact that that’s not going to work, and we’re going to put in place tools to make sure it doesn’t work,” he said. Obama also said the United States had made clear China needed to have an orderly market-based currency system that did not advantage its companies over their U.S. counterparts. “Right now, frankly, their intervention is to prop up their currency rather than to devalue it, because a lot of people have been nervous about the Chinese economy,” he said. Obama told the governors he was “cautiously optimistic” that Congress ultimately will back the 12-nation TPP trade pact, which labor unions oppose because of what Obama called “emotions” about job losses from past trade deals. “Our concern there was that China was the 800-pound gorilla. And if we allowed them to set trade rules out there, American businesses and American workers were going to be cut out,” he said.  Obama said he would have to rely on votes from “a set of strong pro-trade Democrats” in Congress as well as Republicans. But Obama acknowledged that Republicans have also “some concerns along the margins” of the TPP, such as provisions affecting tobacco, and said the campaign for the Nov. 8 presidential election has “roiled” the debate in both parties. Senate Majority Leader Mitch McConnell, a Republican, has said he has “some problems” with the TPP and does not think it should be pursued before the election. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: obama china knows sustain growth modelwashington reuters president barack obama monday said china recognized could sustain growth model indefinitely would take time change speaking state governors white house obama urged press congress approve partnership trade pact boost exports region china obama said tempting china try solve problems dumping goods market said administration made clear china would work obama said they recognize forever sustain growth model going take time tempting solve problems dumping bunch goods market obama said response question raising concerns china exports iron we clear fact going work going put place tools make sure work said obama also said united states made clear china needed orderly currency system advantage companies counterparts right frankly intervention prop currency rather devalue lot people nervous chinese economy said obama told governors cautiously optimistic congress ultimately back tpp trade pact labor unions oppose obama called emotions job losses past trade deals our concern china gorilla and allowed set trade rules american businesses american workers going cut said obama said would rely votes set strong democrats congress well republicans but obama acknowledged republicans also concerns along margins tpp provisions affecting tobacco said campaign presidential election rolled debate parties senate majority leader mitch mcconnell republican said problems tpp think pursued election politicsnews