Saturday, February 21, 2009

clinton assures china on u.s. investments

Joplin Globe | With the export-heavy Chinese economy reeling from the U.S. downturn, Clinton sought in meetings with Premier Wen Jiabao and other top Chinese government leaders to reassure Beijing that its massive holdings of U.S. Treasury notes and other government debt would remain a good investment.

"I appreciate greatly the Chinese government's continuing confidence in United States treasuries. I think that's a well-grounded confidence," Clinton told reporters at a joint news conference with Chinese Foreign Minister Yang Jiechi.

"We have every reason to believe that the United States and China will recover, and together we will help lead the world recovery," she said. Yang said China wants its foreign exchange reserves - the world's largest at $1.95 trillion - invested safely, with good value and liquidity. He said future decisions on using them would be based on those principles, but added that China wanted to continue work with the U.S.

"I want to emphasize 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.

Beijing is the last and perhaps most important stop on Clinton's weeklong visit to Japan, Indonesia, South Korea and China on which she wanted to focus on the economy and global warming.