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Balanced growth is the goal after crisis
(China Daily)
Updated: 2009-07-29 06:57
Officials from both nations played down the prospects for any breakthroughs this week on the major issues that separate the two nations, such as carbon emissions. Wang said China's attempts to create a more open economy would help US recovery efforts. "With the furthering of China's reform and more openness, China and the United States will have even closer economic cooperation and trade relations and the China-US relationship will surely keep moving forward," Wang said.
US officials said the president's team told the Chinese that the US was committed to policies that would not fuel inflation. They stressed that the US has a plan to bring the deficit down once the economic crisis has been resolved. Bernanke, they said, discussed the Fed's exit strategy from the central bank's current period of extraordinary monetary easing, emphasizing it was being careful to guard against future inflation. China, which has the largest foreign holdings of US Treasury debt at $801.5 billion, has been expressing worries that soaring deficits could spark inflation or a sudden drop in the value of the dollar, thus jeopardizing their investments. Chinese officials said those concerns were raised during the talks. AP-Xinhua-China Daily
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