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Clinton hails China's continued investment in US
2009-02-21
BEIJING - U.S. Secretary of State Hillary Rodham Clinton is urging China to continue investing in United States Treasury bonds and says that country's continued investment in the U.S. is a recognition that the two countries depend on each other. She said during an interview with the show "One on One" during her stop in China Sunday that she thinks the Chinese are making a smart decision by continuing to invest in U.S. financial instruments. "It's a safe investment. The United States has a well-deserved financial reputation." In order to boost the economy, the U.S has to incur more debt, she said. "It would not be in China's interest if we were unable to get our economy moving," Clinton said. "So by continuing to support American Treasury instruments, the Chinese are recoginizing our interconnection. we are truly going to rise or fall together. We are in the same boat. "Our economies are so intertwined, the Chinese know that to start exporting again to their biggest market, namely the United States the United States has to take some very drastic measures with this stimulus package, which means we have to incur more debt." With the export-heavy Chinese economy reeling from the U.S. downturn, Clinton has sought in meetings with President Hu Jintao, Foreign Minister Yang Jiechi and Premier Wen Jiabao to reassure Beijing that its massive holdings of U.S. Treasury notes and other government debt would remain a solid investment.
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