China has expressed confidence in the US economy and the Obama administration's policies on fighting the recession, the US Treasury secretary said yesterday.
Speaking on the second day of a closely watched visit to Beijing, Tim Geithner said there was “a very sophisticated understanding” in China about why the US needs to run large budget deficits in the short term, although he repeated the pledge to sharply reduce deficits when the crisis is over.
“I sense . . . a fair amount of confidence not just in the basic underlying strength of the US economy but in our capacity not just to solve this crisis, to get growth back on track, but to go back to living within our means,” Mr Geithner told reporters.
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