Beijing: US needs good fiscal policy

来源：百度文库 编辑：神马文学网 时间：2024/05/06 06:24:49

Beijing: US needs good fiscal policy

08:23, November 09, 2010      

Email | Print | Subscribe | Comments | Forum 

Increases the bookmark twitter facebook digg Google Windowslive Delicious buzz friendfeed Linkedin diigo reddit stumbleupon

China urged the United States on Monday to take a responsible attitude toward its macroeconomic policy for a stable global capital market ahead of President Hu Jintao's upcoming visit to two important economic forums.

Vice-Finance Minister Zhu Guangyao made the remarks at a briefing on Hu's participation in the Group of 20 (G20) Summit in the Republic of Korea (ROK) on Nov 11 and 12 and the 18th Asia-Pacific Economic Cooperation (APEC) Summit in Japan from Nov 13 through 14.

Hu will attend the summits respectively at the invitation of ROK President Lee Myung-bak and Japanese Prime Minister Naoto Kan, said Liu Zhenming, the assistant foreign minister.

On the sidelines of the meetings, Hu will meet with APEC Business Advisory Council members and hold bilateral talks with Lee.

As for a speculated meeting between Hu and Kan, "there are no plans for a bilateral visit", when Hu is in Japan, said Liu.

"As to whether there is a chance of a bilateral meeting (during APEC), I do not have the agenda yet," added Liu when answering a Japanese reporter's question.

By addressing the theme of "Emerging market countries in Asia-Pacific" during the APEC meetings, Hu will introduce China's position on an inclusive and balanced economic growth pattern and unremitting efforts to promote regional free trade zones.

The two important economic forums will focus on the changes needed to tackle the financial crisis and how they should be implemented, as well as discussing further integration of the regional economy and removal of trade barriers.

World leaders including Hu and US President Barack Obama will also sign a pact on what will be presented as a comprehensive framework to address global economic imbalances.

But the meetings will also come amid reported sharp divisions on currency and trade issues - notably the US Federal Reserve Board's recent move to issue $60 billion for restoring a foundering US economy.

Zhu said China upholds global economic growth within a strong, sustainable and balanced framework - a consensus reaffirmed by major economies at the G20 Toronto Summit in June.

Therefore, "China has the concern and will raise the query of the US recent quantitative easing money policy", Zhu said, adding that Beijing is expecting to exchange candid views on the issue with Washington during the multilateral mechanisms.

"We hope the US can realize its responsibility and duty on the revival of the global economy," Zhu said.

Analysts said the currency issue will be a hot topic among the leaders attending the G20 summit, but added there is unlikely to be a harshly worded final document.

"They are well aware that the currency issue is not an easy problem to solve - at least for now," said Chen Fengying, head of the World Economy Institute at the China Institutes of Contemporary International Relations.

Chen said the upcoming G20 summit should focus on how to develop the world economy stably and continuously in the post-crisis era, rather than falling into unfair competition.

Chen also noted that the APEC is to be revitalized with the US and Japan's pursuit of influence in this region, where the rapid economic growth in some Asian nations offer many opportunities.

Zhu also said China welcomes the recent proposal of share reform by the International Monetary Fund (IMF) and hopes for its early approval.

The proposal, if approved, will make China the third-largest stakeholder in the IMF, after only the United States (17.41 percent) and Japan (6.46 percent).

China is currently the sixth-largest.

By Cheng Guangjin and He Wei, China Daily

  • China shows concern, questions over U.S. new monetary policy

  • China's stimulation-oriented monetary policy accomplishes mission

  • U.S.told to give "explanation" for new monetary policy

  • China to continue moderately loose monetary policy

  • QE2 policy will work for U.S. economy, but in limited way: economists

  • No repeat of Japan's mistake: official

  • Interest rates stay put

  • China stocks rise on unchanged monetary policy; bank, travel agency shares lead gains

  • Central bank: Monetary policy is flexible

  • China's central bank repeats goal to continue moderately monetary policy

    • China, Portugal vow to boost legislative exchanges

    • Hu Jintao meets Portuguese PM on bilateral ties

    • Jia Qinglin meets with Oman's Sultan

    • China, U.S. should avoid politicizing economic issues: vice premier

    • China, Israel see closer ties, to expand cooperation

    • Chinese president concludes Portugal trip

    • Chinese Premier to attend China-Portuguese-speaking Countries forum in Macao

    • China, France enter new era of strategic partnership

    • Chinese vice premier says water resources survey
      to help development

      • Release or Cover-up?

      • US, Australia expanding ties to counterbalance China?

      • China's anti-missile technology has exceeded US?

      • Taiwan's ex-leader Chen would be freed?

      • Ten crucial reasons for Chinese demolition

      • Japanese new generation

      • Angry America raises the barricades

Beijing: US needs good fiscal policy Beijing to continue family planning policy Vietnam, US hold defense policy dialogue Beijing rejects US offer to host Diaoyu talks good good good good Good good Privacy Policy Beijing Weather Backpacking Beijing beijing massage Google 的十條「黃金條律」要就此更改（Google needs to change its‘ ""Ten Golden Rules"" to keep Google‘s Credit in US ）： Don‘t be Evil, but in China? Who Needs Agencies? Rough road needs persevere FCC Privacy Policy Anti-Spam Policy Welcome to Beijing Beijing combats prostitution, gambling Yahoo! Modifies Trademark Keyword Policy 如何写RMI Policy File Hitwise US