News / USA

US Debt, Europe Crisis Among Issues at China Talks

William Ide

Chinese officials say the debt crisis in Europe as well as concerns about the U.S. economy will be among a wide range of issues at high-level security and economic talks next week in Beijing.

China's assistant finance minister, Zhu Guangyao, says the situation in Europe is not only a challenge for eurozone countries, but for the entire international financial system.

Speaking at a news conference to preview the upcoming talks, Zhu says next week's U.S.-China Strategic and Economic Dialogue meetings in Beijing will be a chance for both countries to discuss ways they can work together to help stabilize the global economy.

Zhu says the upcoming discussions will take a strategic, global, and long-term approach toward major issues concerning China-U.S. economic relations.

He also says that China will look to coordinate its economic policies with the United States as a buffer against challenges to the global economic system.

Zhu says there will be discussions about China's currency policy and calls for it to appreciate the Chinese yuan, but downplayed the prominence Beijing would give to the topic during the meetings Monday and Tuesday.

Zhu says China will not push forward with reform of its currency because of external pressure.  On the contrary, he says external pressure and noise can do nothing but slow down the reform process.

Manufacturers in the United States and members of Congress blame China for the massive U.S. trade deficit and huge losses of American manufacturing jobs.  They say China unfairly manipulates the value of the yuan to give Chinese-made products a price advantage on world markets.

Beijing says the U.S. problems grow out of overspending, a lack of savings and other shortcomings.

Assistant Finance Minister Zhu Guangyao says China is also concerned about the high U.S. fiscal deficit and the gradual realization of fiscal sustainability.  He says this is an issue Chinese Vice Premier Wang Qishan and U.S. Treasury Secretary Timothy Geithner have exchanged opinions on many times.

Zhu says that during next week's meetings, China will urge the United States to reflect on what has happened in Europe and look at its own fiscal situation.

China is the largest holder of U.S. debt.  It holds nearly $900 billion and added to that pile in March, the first time in seven months.

Vice Foreign Minister Cui Tiankai says China hopes the discussions will help improve ties between the two countries.

Cui says China hopes the discussions will deepen mutual understanding and increase mutual strategic trust as well as strengthen cooperation and coordination between both countries and in the international arena.

Beginning earlier this year, U.S.-China relations were buffeted by a string of events, including concerns about Internet freedom and the censorship of Google in China, Washington's approval of an arms sale to Taiwan, and President Barack Obama's meeting with Tibet's exiled spiritual leader, the Dalai Lama.

Concerns about trade and the Chinese currency continue to test ties.

But, analysts note that relations began showing signs of warming when Chinese President Hu Jintao traveled to Washington last month to attend Mr. Obama's nuclear security summit.  They say that trend continues and note China's decision earlier this week to support United Nations sanctions against Iran after months of foot dragging.

You May Like

Video 2nd American Reportedly Killed in Syria

Local television report says Abdirahman Muhumed left the area to fight for Islamic State militants More

WHO Fears Ebola Outbreak Could Infect 20,000 People

World Health Organization says outbreak 'continues to accelerate' but that most cases are concentrated in a few local areas More

Angelina Jolie Marries Brad Pitt

Actors wed in small private ceremony Saturday in France More

This forum has been closed.
Comments
     
There are no comments in this forum. Be first and add one

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Chinese Doctors Use 3-D Spinal Implanti
X
August 27, 2014 4:53 PM
A Chinese boy suffering from a debilitating bone disease has become the first patient with a part of his spine created in a three-dimensional printer. Doctors say he will soon regain normal mobility. VOA’s George Putic reports.
Video

Video Chinese Doctors Use 3-D Spinal Implant

A Chinese boy suffering from a debilitating bone disease has become the first patient with a part of his spine created in a three-dimensional printer. Doctors say he will soon regain normal mobility. VOA’s George Putic reports.
Video

Video Uneasy Calm Settles Over Israel, Gaza Strip

Israel and the Gaza Strip have been calm since a cease-fire set in Tuesday evening, ending seven weeks of hostilities. Hamas, which controls Gaza, declared victory. Israelis were more wart. VOA’s Scott Bobb reports from Jerusalem.
Video

Video India’s Leprosy Battle Stymied by Continuing Stigma

Medical advancements in the treatment of leprosy have greatly diminished its impact around the world, largely eliminating the disease from most countries. India made great strides in combating leprosy, but still accounts for a majority of the world’s new cases each year, and the number of newly infected Indians is rising - more than 130,000 recorded last year. Doctors there say the problem has more to do with society than science. VOA News reports from Kolkata.
Video

Video Northern California Quake: No Way to Know When Next One Will Hit

A magnitude 6.0 earthquake rocked northern California’s Napa Valley on Sunday. Roads twisted and water mains burst. It was the wine country’s most severe quake in 15 years, and while hospitals treated many people, no one was killed. Arash Arabasadi has more from Washington on what the future may hold for those residents living on a fault line.
Video

Video Scientists Unlock Mystery of Bird Flocks

How can flocks of birds, schools of fish or herds of antelope suddenly change direction -- all the individuals adjusting their movement in concert, at seemingly the same time? British researchers now have some insights into this behavior, which has puzzled scientists for a long time. VOA's George Putic has more.
Video

Video Ukraine: Captured Troops Proof of Russian Role in Separatist Fight

Ukrainian officials say they have captured Russian soldiers on Ukrainian territory -- the latest accusation of Moscow's involvement in the conflict in eastern Ukraine. VOA's Gabe Joselow reports from the Ukrainian side of the battle, where soldiers are convinced of Russia's role.
Video

Video Rubber May Soon Come From Dandelions

Synthetic rubber has been around for more than a century, but quality tires for cars, trucks and aircraft still need up to 40 percent or more natural rubber content. As the source of natural rubber, the rubber tree, is prone to disease and can be affected by bad weather. So scientists are looking for replacements. And as VOA’s George Putic reports, they may have found one in a ubiquitous weed.
Video

Video Jewish Life in Argentina Reflected in Yiddish Tango

Jewish people from across Europe and Russia have been immigrating to Argentina for hundreds of years. They brought with them dance music that were eventually mixed with Argentine tango. The result is Yiddish tango -- a fusion of melodies and cultural experiences that is still evolving today. Elizabeth Lee reports from the Skirball Cultural Center in Los Angeles, where one band is bringing Yiddish tango to an American audience.

AppleAndroid