Monday, June 01, 2009

Geithner's Speech in China June 1

I've fast forwarded to the conclusion. You can read the whole speech here. 
Speech by Secretary Geithner - The United States and China, Cooperating for Recovery and Growth

The United States and China, Cooperating for Recovery and Growth Treasury Secretary Timothy F. Geithner
Speech at Peking University - Beijing, China
June 1st, 2009

Conclusion


In the last few years the frequency, intensity, and importance of U.S.-China economic engagements have multiplied. The U.S.-China Strategic and Economic Dialogue that President Obama and President Hu initiated in April is the next stage in that process. I look forward to welcoming Vice Premier Wang, State Councilor Dai and their colleagues to Washington to participate in the first meeting of the U.S.-China Strategic and Economic Dialogue.

Our engagement should be conducted with mutual respect for the traditions, values, and interests of China and the United States. We will make a joint effort in a concerted way. We should understand that we each have a very strong stake in the health and the success of each other's economy.

China and the United States individually, and together, are so important in the global economy and financial system that what we do has a direct impact on the stability and strength of the international economic system. Other nations have a legitimate interest in our policies and the ways in which we work together, and we each have an obligation to ensure that our policies and actions promote the health and stability of the global economy and financial system.

We come together because we have shared interests and responsibilities. We also have our own national interests. I will be a strong advocate for U.S. interests, just as I expect my counterparts to represent China's. China has benefited hugely from open trade and investment, and the ability to greatly increase its exports to the rest of the world. In turn, we expect increased opportunities to export to and invest in the Chinese economy.

We want China to succeed and prosper. Chinese growth and expanding Chinese demand is a tremendous opportunity for U.S. firms and workers, just as it is in China and the rest of the world.

Global problems will not be solved without U.S.-China cooperation. That goes for the entire range of issues that face our world from economic recovery and financial repair to climate change and energy policy.

I look forward to working with you cooperatively, and in a spirit of mutual respect.
On China's mind: