President Obama to Discuss Economic Issues With China's President

President Barack Obama has an ambitious agenda when he meets with China's President Xi Jinping Thursday in Washington. This will be the Communist Party Chief's first state visit. The President will address important economic issues to enhance U.S.-China relations. First, the issue of cyber security and cyber crimes. The U.S. wants protection of intellectual property from Chinese hackers. China has been accused of stealing trade secrets and confidential information, breaking trust between U.S. companies and China. Second, for China's continued growth, the administration wants to ensure China doesn't devalue its currency, making exports cheaper. They believe that fair competition and an economy controlled by market forces would level the playing field for foreign firms. The U.S. wants China to participate in the rules-based international economic system and focus on a consumer-led economy. Other issues on the table include climate change, global health, military-to-military cooperation, free flow of commerce on the South China Sea, and human rights. TheStreet's Valerie Young reports from New York.