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

Turkey: No Ransom Paid for Release of Hostages Held by IS Militants

President Erdogan hails release of hostages as diplomatic success but declines to be drawn on whether their release freed Ankara's hand to take more active stance against insurgents More

Audio Sierra Leone Ends Ebola Lockdown

Health ministry says it has reached 75 percent of its target of visiting 1.5 million homes to locate infected, educate population about virus More

US Pivot to Asia Demands Delicate Balancing Act

As tumult in Middle East distracts Obama administration, efforts to shift American focus eastward appear threatened 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.
Natural Gas Export Plan Divides Maryland Towni
X
Deborah Block
September 21, 2014 2:12 PM
A U.S. power company that has been importing natural gas now wants to export it. If approved, its plant in Lusby, Maryland, would likely be the first terminal on the United States East Coast to export liquefied natural gas from American pipelines. While some residents welcome the move because it will create jobs, others oppose it, saying the expansion could be a safety and environmental hazard. VOA’s Deborah Block examines the controversy.
Video

Video Natural Gas Export Plan Divides Maryland Town

A U.S. power company that has been importing natural gas now wants to export it. If approved, its plant in Lusby, Maryland, would likely be the first terminal on the United States East Coast to export liquefied natural gas from American pipelines. While some residents welcome the move because it will create jobs, others oppose it, saying the expansion could be a safety and environmental hazard. VOA’s Deborah Block examines the controversy.
Video

Video Difficult Tactical Battle Ahead Against IS Militants in Syria

The U.S. president has ordered the military to intensify its fight against the Islamic State, including in Syria. But how does the military conduct air strikes in a country that is not a U.S. ally? VOA correspondent Carla Babb reports from the Pentagon.
Video

Video Iran, World Powers Seek Progress in Nuclear Talks

Iran and the five permanent members of the U.N. Security Council plus Germany, known as the P5 + 1, have started a new round of talks on Iran's nuclear program. VOA State Department correspondent Pam Dockins reports that as the negotiations take place in New York, a U.S. envoy is questioning Iran's commitment to peaceful nuclear activity.
Video

Video Alibaba Shares Soar in First Day of Trading

China's biggest online retailer hit the market Friday -- with its share price soaring on the New York Stock Exchange. The shares were priced at $68, but trading stalled at the opening, as sellers held onto their shares, waiting for buyers to bid up the price. More on the world's biggest initial public offering from VOA’s Bernard Shusman in New York.
Video

Video Obama Goes to UN With Islamic State, Ebola on Agenda

President Obama goes to the United Nations General Assembly to rally nations to support a coalition against Islamic State militants in Iraq and Syria. He also will look for nations to back his plan to fight the Ebola virus in West Africa. As VOA White House correspondent Luis Ramirez reports, Obama’s efforts reflect new moves by the U.S. administration to take a leading role in addressing world crises.
Video

Video Migrants Caught in No-Man's Land Called Calais

The deaths of hundreds of migrants in the Mediterranean this week has only recast the spotlight on the perils of reaching Europe. And for those forunate enough to reach a place like Calais, France, only find that their problems aren't over. Lisa Bryant has the story.
Video

Video Westgate Siege Anniversary Brings Back Painful Memories

One year after it happened, the survivors of the terror attack on Nairobi's Westgate Shopping Mall still cannot shake the images of that tragic incident. For VOA, Mohammed Yusuf tells the story of victims still waiting for the answer to the question 'how could this happen?'
Video

Video Militant Assault in Syria Displaces Thousands of Kurds

A major assault by Islamic State militants on Kurds in Syria has sent a wave of new refugees to the Turkish border, where they were stopped by Turkish border security. Turkey is already hosting about 700,000 Syrian refugees who fled the civil war between the government and the opposition. But the government in Ankara has a history of strained relations with Turkey's Kurdish minority. Zlatica Hoke reports Turkey is asking for international help.
Video

Video Whaling Summit Votes to Uphold Ban on Japan Whale Hunt

The International Whaling Commission, meeting in Slovenia, has voted to uphold a court ruling banning Japan from hunting whales in the Antarctic Ocean. Conservationists hailed the ruling as a victory, but Tokyo says it will submit revised plans for a whale hunt in 2015. Henry Ridgwell reports from London.
Video

Video A Dinosaur Fit for Land and Water

Residents and tourists in Washington D.C. can now examine a life-size replica of an unusual dinosaur that lived almost a hundred million years ago in northern Africa. Scientists say studying the behemoth named Spinosaurus helps them better understand how some prehistoric animals adapted to life on land and in water. The Spinosaurus replica is on display at the National Geographic museum. VOA’s George Putic has more.
Video

Video Iraqi Kurdistan Church Helps Christian Children Cope find shelter in churches in the Kurdish capital, Irbil

In the past six weeks, tens of thousands of Iraqi Christians have been forced to flee their homes by Islamic State militants and find shelter in churches in the Kurdish capital, Irbil. Despite U.S. airstrikes in the region, the prospect of people returning home is still very low and concerns are starting to grow over the impact this is having on the displaced youth. Sebastian Meyer reports from Irbil on how one church is coping.
AppleAndroid