The WSJ recently ran an Op-Ed by Hillary Clinton and Tim Geithner, Secretary of Treasury, expressing efforts to boost U.S.-China relations, especially in midst of an economic turmoil for both countries. With China emerging on the international scene with economic force driven by an army of over a billion residents, it makes sense for the U.S. to actively engage in efforts to converse and strengthen relations with China to assure a "balanced and sustained global growth once recovery has taken hold". This comes in lieu of Sec. of State Clinton's recent meetings with Chinese leaders to discuss how to tackle global problems and regain economic growth.
They have outlined 3 vast ways to achieve balance and sustainable growth:
- For Americans: rebuilding our savings, strengthening our financial system and investing in energy, education and health care to make our nation more productive and prosperous.
For China: continuing financial sector reform and development. Spurring domestic demand growth and making the Chinese economy less reliant on exports. Raising personal incomes and strengthening the social safety net to address the reasons why Chinese feel compelled to save so much would provide a boost to Chinese domestic demand and global growth. - Make progress on the interconnected issues of climate change, energy and the environment.
- Broad area for discussion is finding complementary approaches to security and development challenges in the region and across the globe. (N.Korea, Afghanistan, Pakistan).
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