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Clinton urges strong US-China economic ties
US Secretary of State Hillary Rodham Clinton wrapped up her Asian trip by urging China to continue investing in United States Treasury bonds.
- Agencies
- Published: 11:17 February 22, 2009
Beijing: US Secretary of State Hillary Rodham Clinton wrapped up her Asian trip by urging China to continue investing in United States Treasury bonds.
Clinton said on Sunday that the country's continued investment in the US is a recognition that the two countries depend on each other.
"I certainly do think that the Chinese government and central bank are making a smart decision by continuing to invest in treasury bonds," she said during an interview with the show "One on One." "It's a safe investment. The United States has a well-deserved financial reputation."
In order to boost the economy, the US has to incur more debt, she said. "It would not be in China's interest if we were unable to get our economy moving," Clinton said. "So by continuing to support American Treasury instruments, the Chinese are recognising our interconnection. We are truly going to rise or fall together. We are in the same boat and, thankfully, we are rowing in the same direction.
With the export-heavy Chinese economy reeling from the US downturn, Clinton has sought in meetings with President Hu Jintao, Foreign Minister Yang Jiechi and Premier Wen Jiabao to reassure Beijing that its massive holdings of US Treasury notes and other government debt would remain a solid investment.
Yang responded that China wants to see its foreign exchange reserves invested safely and wanted to continue working with the United States. "I want to emphasise here that the facts speak louder than words. The fact is that China and the United States have conducted good cooperation, and we are ready to continue to talk with the U.S. side," Yang said.
Clinton also attended services at a state-sanctioned church and having a conversation with women's rights activists.
Clinton's weeklong trip highlighted her commitment to civil and religious rights in a way that would not offend the Chinese government, which resents what it views as interference in its internal affairs.
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