News / USA

US Sees Progress in Economy Talks with China

Multimedia

Audio

U.S. Treasury Secretary Timothy Geithner says differences remain, but the United States and China made progress in high-level talks this week in Beijing.

U.S. Treasury Secretary Timothy Geithner says China has taken steps to modify a controversial policy that was a source of growing concern among U.S. and other international businesses, and a key issue American officials raised during the Strategic and Economic Dialogue.

Business leaders have complained a new Chinese policy named "indigenous innovation" makes it difficult for foreign companies to compete in the country.  The policy gives advantages to companies bidding for government contracts that conduct their research and development in China and patent their innovations here.

"And we welcome the progress we achieved to provide a more level playing field for American firms exporting to China and operating in China," said Geithner.

Geithner said officials from both countries would be holding a series of talks to address remaining concerns in the coming weeks and months.

He also welcomed China's commitment to submit a revised offer to join a World Trade Organization agreement by July that sets standards for international access to government contracts. He welcomed its commitments to reduce barriers to foreign investment in services, high-tech goods, energy saving products and high-end manufacturing.

"This is progress," he added.  "It does not fully resolve our concerns, but it gives us a set of basic principles to move forward."

The two sides also agreed to work to develop China's vast natural gas capacity.

U.S. and Chinese officials both spoke about how their cooperation is important to helping stabilize the world's recovery from the global financial crisis.

They noted that while there is promising improvement in the pace of growth in China and the United States, they would also work together to support efforts to help countries in Europe with the challenges they face.

Vice Premier Wang Qishan said the second round of strategic and economic talks with officials from the Obama administration was a success and that both sides had in-depth discussions and reached agreements.

Wang says that as the biggest developing country and biggest developed country, the mutual economic relationship of the United States and China is having an impact on the entire world.

The two sides did not make any additional comments regarding requests from Chinese officials for Washington to put an end to curbs on "dual use" high-tech exports that have possible military applications.

The United States is reviewing its export control policy and is expected to announce changes to the policy in the next few months.

China did not make any additional statements regarding its currency policy, which has been a persistent issue.  On Monday, Chinese President Hu Jintao stressed China would continue with the gradual reform of its currency, the yuan, but at its own pace.

You May Like

Video Miami Cubans Divided on New US Policy

While older, more conservative Cuban Americans have promoted anti-Castro political movement for years, younger generations say economically, it is time for change More

2014 Sees Dramatic Uptick in Boko Haram Abductions

Militants suspected in latest mass kidnapping of over 100 people in Gumsuri, Nigeria on Sunday More

Video Cuba Deal Is Major Victory for Pope

Role of Francis hailed throughout US, Latin America - though some Cuban-American Catholics have mixed feelings 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.
Sudan School Becomes Target of Aerial Attacksi
X
December 19, 2014 12:45 AM
The school dropout rate is at an all-time high in Sudan's South Kordofan state because many schools have been destroyed during the three-year civil war between the government and SPLA-N rebel forces. Adam Bailes visited Sudan's Nuba Mountains' region and reports many children are simply too scared to go to school
Video

Video Sudan School Becomes Target of Aerial Attacks

The school dropout rate is at an all-time high in Sudan's South Kordofan state because many schools have been destroyed during the three-year civil war between the government and SPLA-N rebel forces. Adam Bailes visited Sudan's Nuba Mountains' region and reports many children are simply too scared to go to school
Video

Video VOA Reporter Tours Devastated Peshawar School

Islamist militants wearing military uniforms and strapped with explosives attacked a military run school Tuesday in the northwestern Pakistani city of Peshawar. At least 141 people were killed in the horrific attack, most of them young students. VOA reporter Ayaz Gul visited the devastated school and attended the funeral of the principal who courageously tried to save her students from the deadly attack.
Video

Video Nigerians Fleeing Boko Haram Languish in Camp Near Capital

In its five-year effort to impose Islamic law in northeastern Nigeria, the Boko Haram extremist group has killed thousands of people and forced hundreds of thousands to flee. Some of those who ran for their lives now live in squalor on the edges of the capital, Abuja. Chris Stein reports for VOA.
Video

Video Putin Says Russian Economy Will Emerge Stronger

Russian President Vladimir Putin has said his country's sinking economy will not only recover but also become stronger, despite falling oil prices and Western sanctions over Ukraine. VOA's Daniel Schearf reports.
Video

Video Detained Turkish Journalists Follow Teachings of US-Based Preacher

The Turkish government’s jailing of critical journalists has sparked international condemnation and is being seen as an effort to undermine the followers of an ailing Turkish preacher based in the United States. VOA religion reporter Jerome Socolovsky has more.
Video

Video ‘Anti-Islamization’ Marches Increase Tensions In Germany

Anti-immigrant rallies in Germany have been building in recent weeks, peaking Monday night in the city of Dresden where tens of thousands of people turned out to demonstrate against what they call the ‘Islamization’ of the West. Germany has offered asylum to more Syrian refugees than any other country, and this appears to have set off the protests. Henry Ridgwell reports from London.
Video

Video Aceh Rebuilt Decade After Tsunami, But Scars Remain

On December 26, 2004 there was an earthquake in the Indian Ocean so powerful it caused the Earth’s axis to wobble a few centimeters. Onshore on the island of Sumatra, the resulting tsunami was devastating. A decade later, VOA Correspondent Steve Herman reports from Banda Aceh, Indonesia, where although there is little remaining evidence of the physical devastation, the psychological scars among survivors remain.
Video

Video Refugees Living in Kenya Long for Peace in the Home Countries

Kenya is host to numerous refugees seeking safe haven from conflict. Immigrants from Somalia face challenges in their new lives in Kenya. Ahead of International Migrants Day (December 18) Lenny Ruvaga has more for VOA News from the Kenyan capital.

All About America

AppleAndroid