China's rise a boost for jobs in US, says Biden
Source: Xinhua |
August 22, 2011, Monday
|
Print Edition
Print Edition
VISITING US Vice President Joe Biden yesterday called China's rise a "positive development" that will bring more opportunities for bilateral cooperation.
"I believed in 1979, and I believe now that a rising China is a positive development," Biden told hundreds of students in Sichuan University in Chengdu, capital city of southwest Sichuan Province.
Biden said a rising China will "fuel economic growth and prosperity," and will mean "more demand for American-made goods and services and more jobs back home in the United States."
The US relishes competition from China and hopes for continued Chinese prosperity, with the US$110 billion in US exports to China last year generating hundreds of thousands of jobs, Biden said.
"It's in our self interest that China continues to prosper," he added.
As a member of the first delegation of US congressional leaders who visited China in 1979, Biden acknowledged that China was on a course of remarkable transformation and that the US-China relationship had also improved dramatically in the past 30 years.
"President Obama and I will continue the important work of making this partnership even more positive, cooperative and comprehensive in the coming years," he said.
Biden stressed the importance of cooperation in the development of bilateral relations and called for more from China in many areas, ranging from international and regional issues to bilateral dialogue between military leaders.
"We're working very hard to develop our cooperative partnership through more than 60 separate dialogues on issues" that matter to both China and the US, Biden said.
In the speech and the following question-and-answer session, the vice president rejected the claim that US power is declining and he reassured the security of China's huge holding of US financial assets and treasury bonds.
Largest economy
"You are safe," he said. "America today is by far the largest economy, with a GDP of almost 15 trillion dollars, about two and a half times as large as China's."
He said Americans own a far bigger percentage of US financial assets and treasury bonds than China does.
"Please understand that no one cares more about this than we do," he said. "So our interest is not just to protect Chinese investment. We have an overarching interest in protecting our investment, and the United States has never defaulted and never will default."
Chengdu is the second and last leg of Biden's six-day official visit.
Biden said he was pleased to make his first visit to western China, acknowledging the role it played in China's history, and the role it will play in the future. The city's hi-tech zone houses more than 160 Fortune 500 companies.
"I believed in 1979, and I believe now that a rising China is a positive development," Biden told hundreds of students in Sichuan University in Chengdu, capital city of southwest Sichuan Province.
Biden said a rising China will "fuel economic growth and prosperity," and will mean "more demand for American-made goods and services and more jobs back home in the United States."
The US relishes competition from China and hopes for continued Chinese prosperity, with the US$110 billion in US exports to China last year generating hundreds of thousands of jobs, Biden said.
"It's in our self interest that China continues to prosper," he added.
As a member of the first delegation of US congressional leaders who visited China in 1979, Biden acknowledged that China was on a course of remarkable transformation and that the US-China relationship had also improved dramatically in the past 30 years.
"President Obama and I will continue the important work of making this partnership even more positive, cooperative and comprehensive in the coming years," he said.
Biden stressed the importance of cooperation in the development of bilateral relations and called for more from China in many areas, ranging from international and regional issues to bilateral dialogue between military leaders.
"We're working very hard to develop our cooperative partnership through more than 60 separate dialogues on issues" that matter to both China and the US, Biden said.
In the speech and the following question-and-answer session, the vice president rejected the claim that US power is declining and he reassured the security of China's huge holding of US financial assets and treasury bonds.
Largest economy
"You are safe," he said. "America today is by far the largest economy, with a GDP of almost 15 trillion dollars, about two and a half times as large as China's."
He said Americans own a far bigger percentage of US financial assets and treasury bonds than China does.
"Please understand that no one cares more about this than we do," he said. "So our interest is not just to protect Chinese investment. We have an overarching interest in protecting our investment, and the United States has never defaulted and never will default."
Chengdu is the second and last leg of Biden's six-day official visit.
Biden said he was pleased to make his first visit to western China, acknowledging the role it played in China's history, and the role it will play in the future. The city's hi-tech zone houses more than 160 Fortune 500 companies.
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