Home / Business / News Tools: Save | Print | E-mail | Most Read | Comment
Geithner looks to sell safety of US bonds
Adjust font size:

Visiting US Treasury Secretary Timothy Geithner is expected to reassure China of the safety of its investments in the US and resist the temptation of trade protectionism - crucial to woo further Chinese lending to the world's largest borrower.

Geithner, who arrived in Beijing yesterday on his first trip as Treasury chief, is expected to meet with President Hu Jintao, Premier Wen Jiabao and Vice-Premier Wang Qishan, as well as deliver a speech at Peking University.

Observers say Geithner's top priority would be to persuade Chinese policymakers to continue the purchase of US Treasuries, vital for Barack Obama's administration to finance its stimulus plan and pull the US economy out of recession.

En route to Beijing, Geithner told reporters that the Obama administration was firmly committed to ratcheting down huge deficits as quickly as it can once economic recovery is assured, Reuters reported

"No one is going to be more concerned about future deficits than we are," he said.

However, Geithner could face a tough task reassuring his hosts that China's huge holdings of Treasury bonds would not lose value and the US dollar would remain stable.

China held $768 billion in Treasury securities as of March, making it the single largest holder of US government debt.

It is estimated about 70 percent of China's $2 trillion foreign exchange reserves are held in US dollar-denominated assets.

Yet, the US government's rising debt and the Federal Reserve's quantitative easing, which in effect means printing money, may dent Chinese investment in the US.

Yu Yongding, an economist and former member of the monetary policy committee of the China central bank, said: "I do not know whether there will be enough demand for new issuances and hence I am worried about the direction of the prices of US government securities."

Wang Jian, secretary-general of the China Society of Macroeconomics, agreed. "Prospects for the US dollar and US Treasuries do not look good at the moment, and even worse in the long run."

Wang said Beijing would expect the Obama administration to lift the ban on high-tech exports to China and lower barriers for Chinese investment in the US.

Jin Canrong, deputy dean of the school of international studies at Renmin University of China, said the Chinese government may also urge the US to resist trade protectionism, trying to stabilize demand in its largest export market.

"If the US government resists protectionism, it would not only help maintain demand for Chinese goods, but also help discourage other nations from taking that route," Jin said.

Li Daokui, an economics professor of Tsinghua University, said Geithner's visit is also expected to lay the groundwork for further cooperation in the next four years.

(China Daily June 1, 2009)

Tools: Save | Print | E-mail | Most Read Bookmark and Share
Comment
Pet Name
Anonymous
China Archives
Related >>
- Geithner looks to sell safety of US bonds
- Geithner aims for positive China tour
- Geithner vows to strengthen relations with China
- Geithner says US financial system starting to heal
May 7-8 Brussels China-EU high-level trade talks

May 17-22 Hong Kong Heilongjiang-Hong Kong Trade Cooperation Seminar

June 30 Shanghai 2009 Automotive Engine Technology Seminar
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
主站蜘蛛池模板: 日韩精品高清在线| 免费国产不卡午夜福在线| 亚洲欧美视频在线| caoporn97在线视频进入| 欧美一区欧美二区| 啦啦啦最新在线观看免费高清视频| 99re6热视频精品免费观看| 日韩亚洲av无码一区二区不卡| 免费一级毛片在播放视频| 久草福利在线观看| 女警骆冰被黑人调教免费阅读小说 | 黑色毛衣在线播放| 女人18片免费视频网站| 亚洲国产精品福利片在线观看| 韩国公和熄三级在线观看| 在线观看免费成人| 久久6这里只有精品| 欧美在线精品永久免费播放| 北条麻妃在线观看视频| 黄色a三级免费看| 在线免费视频一区二区| 中文字幕天天躁日日躁狠狠躁免费 | 污污污污污污www网站免费| 国产亚洲成归v人片在线观看 | 免费va人成视频网站全| 精品国产一区二区三区香蕉| 国产欧美日韩中文字幕| gogo全球高清大胆啪啪| 日本在线免费看片| 亚洲国产精品专区| 欧美黑人又粗又硬xxxxx喷水| 啊老师太深了好大| 色老头老太xxxxbbbb| 国产精品久久一区二区三区 | kink系列视频在线播放| 日产精品久久久久久久| 亚洲fuli在线观看| 波多野结衣伦理片bd高清在线| 健身私教弄了我好几次啊| 色欲香天天天综合网站| 国产欧美日韩在线观看一区二区 |