--Washington 9, 16 February: the United States Treasury Secretary Geithner testimony in Congress emphasized that the China market is crucial for economic recovery in the United States, a strong and growing China environment conducive to the United States.
Day in the Senate on monetary policy and testified before the u.s.-China economic relations, Mr Geithner in indispensability for using a larger space to describe the Chinese market and the importance of the United States. Geithner said: "u.s.-China relationship contains significant economic benefits, China has more than 13 million population, the economy continued to two digits or close to grow at double-digit rates, and the United States, China is the fastest growing major overseas markets. ”
"Millions of people out of poverty in China, now accelerate middle class population growth, encourage the expansion of domestic demand, which ultimately means that the United States goods and services more demand. "This is the United States Congress pressure Finance Ministers said:" with China to expand trade and investment are increasing United States enterprises and workers a chance, this is the successful implementation of Obama ' national export initiative ', it is more widely supported employment efforts. ”
Geithner stressed that the United States exports to China growth far exceeds United States exports to the rest of the world. So far this year, the United States to China's exports of goods and services more than 530 billion in merchandise exports to China than in 2009, an increase of 36%, compared to the financial crisis of 2008 over 16%. In contrast, the United States on the rest of the world's merchandise exports remain low over the 2008 level of 8%.
"This highlights the Chinese market to us the importance of sustainable recovery. "Geithner said," in agriculture, manufacturing, service and a wide range of products in the United States, China is a key market. ”
In testimony, Geithner expressed the concern of the RMB exchange rate, he pointed out that the appreciation of the Renminbi appreciation speed too slow, the range is very limited. He stressed that through bilateral and multilateral channels urge the Chinese Government to allow renminbi rapidly, meaningful and continuing appreciation.
However, Geithner also admits that the Renminbi appreciation does not erase the global trade deficit in the United States, as well as the trade deficit. He also stressed that the United States practiced well the importance of 4949, known as fundamentally, United States should take action to strengthen the national economy.
The same afternoon, Geithner will also attend to the House of representatives a relevant public hearings of the RMB exchange rate issues. (The end)
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