China's conomic development very important to world - Paulson
Updated: 2006-10-13 13:45
WASHINGTON -- U.S. Treasury Secretary Henry Paulson said Thursday that
China's economic development is "very, very important" to China and the rest of
"I really believe that a China that is a growing part of the global economy
is going to benefit the U.S. and benefit the rest of the world," Paulson said in
an interview with Fox News.
Paulson said that China's economic relationship is very important with the
United States and with the rest of the world.
"And the more constructive engagement we all have together, the higher the
cost of any kind of conflict or anything that would undermine the global
economic stability," he added.
Paulson noted that the United States has some very important economic
relationships, "but I really believe the most important long-term economic
relationship we're going to have is going to be our relationship with China and
Mentioning that some people are concerned that China is somehow or other
going to outcompete the United States and overtake the U.S. economy, Paulson
said that "the thing I am most concerned about is that China won't move ahead
quickly enough with their reforms and that if they don't move ahead quickly
enough with their reforms, then they may have their own economic issues."
China has got some formidable economic challenges, he said, "I would like to
believe they're going to continue with their reform program and that they're
going to accelerate the pace of those reforms."
"China needs to keep growing its economy, needs to keep reforming its
economy, needs stable economic relations around the world, and I think that's
very important of China," Paulson said.