News
Highlights from news conference of Clinton, Geithner
(Agencies/chinadaily.com.cn)
Updated: 2010-05-25 22:24
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U.S. Secretary of State Hillary Clinton (L) speaks next to U.S. Treasury Secretary Timothy Geithner at a news conference after the U.S.-China Strategic Economic Dialogue in Beijing May 25, 2010. [Photo/Agencies]
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The United States and China pledged closer cooperation Tuesday on financial regulation and the environment after a high-level dialogue.
"This round of the dialogue did not solve all our problems but did produce concrete results," said U.S. Secretary of State Hillary Rodham Clinton.
The two governments agreed to collaborate on developing China's natural gas resources.
"We believe that could well lead to new economic opportunities in both countries and a lower carbon output level," Clinton said.
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Yuan reform is a decision for China to make by itself, U.S. Treasury Secretary Timothy Geithner said on Tuesday at the end of talks in Beijing.
In his closing remarks, Geithner welcomed a pledge by China's top leaders to pursue currency reform as part of a broader agenda aimed at boosting domestic consumption and helping rebalance global growth.
"This is of course China's choice," he said.
Geithner said he was "as confident as I've ever been" that China will see that it is in its own interest to let the yuan resume appreciating -- for example, to help curb inflation.
Geithner declined to say when his department might release a report on whether Beijing is a currency manipulator, which could lead to sanctions. The report was due April 15th but Geithner delayed it, saying international meetings this year were a better way to advance Washington's position.
European debt crisis
Geithner said the two sides agreed to cooperate through the International Monetary Fund to help resolve the European debt crisis.
New energy
The two governments announced modest agreements to cooperate in banking and financial market regulation and development of alternative energy.
Washington pledged help, including from the U.S. Geological Survey, to develop China's resources of clean-burning shale gas.
"We believe that could well lead to new economic opportunities in both countries and a lower carbon output level," Clinton said.
On Technology
Geithner said Beijing promised to modify its "indigenous innovation" policy, meant to promote Chinese technology in government procurement and other areas.
Geithner said China promised to abide by principles of nondiscrimination and to leave the terms of technology transfer to agreements between enterprises.
He said Washington had more concerns about the policy and U.S. Trade Representative Ron Kirk and other officials would hold talks with China in coming months.
Stability on the Korean peninsula
“We know this is a shared responsibility and in the days ahead we will work with the international community and our Chinese colleagues to fashion an effective, appropriate response," Clinton said.
"We expect to be working together with China in responding to North Korea's provocative action and promoting stability in the region," Clinton told reporters at the news conference.
"I think it is absolutely clear that China not only values but is very committed to regional stability and it shares with us the goal of a denuclearized Korean peninsula and a period of careful consideration in order to determine the best way forward in dealing with North Korea," she said.
On Iran nuclear issue
"We had productive discussions on completing the annexes and proceeding to the Security Council with the resolution and annexes," Clinton told a news briefing after two days of high-level talks with Chinese officials.
Clinton said that a nuclear fuel swap plan hammered out by Iran, Turkey and Brazil did not resolve worries about Tehran's motives.
"We discussed at some length the shortcomings of the recent proposal put forward by Iran... There are a number of deficiencies with it that do not answer the concerns of the international community," she said.
Clinton cited Tehran's announcement that it would not stop enriching uranium to higher levels even after signing the deal to send some of the fuel abroad.
The agreement was "a transparent ploy to avoid Security Council action", she added.