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05.12.2008 - China tells US to steady economy

China China and US open strategic economic talks ...
China says hostages died in botched rescue attempt ...
Chinese dissident wins EU human rights prize ...
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Testing of Chinese food imports widens ...
has told the US to stabilise its economy in a sign that the emerging economic power is ready to challenge the established order.

The call came at high level meetings between US and Chinese finance officials in Bejing.

The Czech Republic news are represented by www.barcelona-hotels-apartments.com


The US is far more used to giving lectures to foreign powers on economic policy than it is on receiving them.
China also called on the US to boost its savings rate and to protect Chinese assets and investments in the US.
China's central bank governor, Zhou Xiaochaun, told US officials that: "Over-consumption and a high reliance on credit is the cause of the US financial crisis.
He also said the US needed to "take the initiative... and reduce its trade and fiscal deficits."
The Chinese economy is growing at around 9% a year, whereas the US economy is in recession.

(BBC)


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