Home>News Center>China
       
 

ADB: US deficit with China has positive aspect
(AP)
Updated: 2005-11-19 01:52

The global imbalance created by the huge trade deficit of the United States with China has also benefited the two countries, the vice president of the Asian Development Bank said on Friday.

Linqun Jin, vice president of the Manila-based ADB, told a banking conference in Frankfurt that sharp economic growth in China and India is a major concern but policymakers need to tell the markets it has also had a positive impact.

"(Growth in China and India) is not a threat but is a major concern. How can we deal with this situation (China, India)? It's very important for decision-makers to provide a correct perspective of the real situation to the general public," said Jin, who is a former Vice Minister of Finance in China.

"When you focus on the U.S. trade deficit against China, you think it's a huge problem. They (people) forget huge benefits (reaped by China and the United States) over the past quarter century. They forget something positive.

"The Chinese economic growth over the last quarter century has offered huge exports markets to Japan, the U.S., European , Australia, New Zealand and also neighbouring countries. This is a factor which shouldn't be neglected. This is a new problem created by the solution of the previous problem. We will continue to face problems in the future."

He added: "I don't think it's sustainable for China to continue to invest in financial instruments in the United States. I do believe when we look forward there will be a new kind of growth pattern. This is not the kind of pattern you can predict."



President Hu attends APEC summit
Anti-terror drill in Sichuan
Counter-terrorism drill in Sichuan
  Today's Top News     Top China News
 

President Hu calls for removal of trade barriers

 

   
 

Glorious life of Hu Yaobang marked

 

   
 

Mainland, Taiwan agree to renew flights

 

   
 

New outbreaks reported, Beijing acting

 

   
 

Bush's visit symbolic but still important

 

   
 

Americans see China as less of a threat

 

   
  ADB: US deficit with China has positive aspect
   
  China commemorates late CPC senior leader
   
  China, Chile sign free-trade agreement
   
  17 missing in Guizhou colliery blast
   
  China's development poses no threat to others: Hu
   
  Hu meets Hong Kong SAR chief executive
   
 
  Go to Another Section  
 
 
  Story Tools  
   
  News Talk  
  It is time to prepare for Beijing - 2008  
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement