WASHINGTON — The United States and China agreed Tuesday to jointly rebuild the global economy on a sounder footing once the recession finally ends.
Concluding two days of talks, diplomats from the two sides agreed on a four-part road map to guide their economies. Officials sketched a vision of a globe better balanced between Asian producers and Western consumers and buttressed by a financial system less prone to volatile bubbles.
"The basic importance of this is the recognition by both of us that things are going to have to change going forward. We're going to make sure we come out of this with a stronger foundation, a more balanced global economy, a more stable global economy," said Treasury Secretary Timothy Geithner, who co-chaired the U.S. delegation along with Secretary of State Hillary Clinton.
Both U.S. and Chinese officials hailed the talks as unprecedented, though they built on a series of twice-yearly meetings begun during the Bush administration.
The two nations — the current and perhaps future world superpowers — are locked in a mutually dependent financial relationship that has deepened dramatically in recent year
Source: http://www.usatoday.com |
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