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Wen: Confident US economy to resume healthy growth
August 19, 2011, Friday
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US Vice President Joe Biden today said China had "nothing to worry about" concerning the safety of its vast holdings of Treasury debt, while Premier Wen Jiabao gave a ringing endorsement of the resilience of the debt-ridden US economy.
The exchange came on the second day of Biden's five-day visit to China where he is seeking to reduce distrust between the world's two largest economies and build relations with Chinese leaders.
Wen said he was confident that the US economy would get back on track for healthy growth, echoing earlier comments from Vice President Xi Jinping.
"It's particularly important that you sent a very clear message to the Chinese public that the United States will keep its word and its obligations with regard to its government debt, it will preserve the safety, liquidity and value of US Treasuries," Wen told Biden.
Wen's comments were the first by a senior Chinese leader to directly address the roiling debt crisis in Washington since this month's credit rating downgrade by Standard and Poor's.
In response, Biden told Wen that Washington appreciated and welcomed China's investment in US treasuries.
"Very sincerely I want to make clear you have nothing to worry about," Biden said.
The exchange came on the second day of Biden's five-day visit to China where he is seeking to reduce distrust between the world's two largest economies and build relations with Chinese leaders.
Wen said he was confident that the US economy would get back on track for healthy growth, echoing earlier comments from Vice President Xi Jinping.
"It's particularly important that you sent a very clear message to the Chinese public that the United States will keep its word and its obligations with regard to its government debt, it will preserve the safety, liquidity and value of US Treasuries," Wen told Biden.
Wen's comments were the first by a senior Chinese leader to directly address the roiling debt crisis in Washington since this month's credit rating downgrade by Standard and Poor's.
In response, Biden told Wen that Washington appreciated and welcomed China's investment in US treasuries.
"Very sincerely I want to make clear you have nothing to worry about," Biden said.
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