Geithner praises China for playing responsible stabilizing role

Updated: 2012-02-26 12:22


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MEXICO CITY - China has played a responsible stabilizing role in its international policy, US Treasury Secretary Timothy Geithner said here Saturday.

"China has played a really very responsible stabilizing role, despite its relative newcomer status,"  he said at a press conference.

"And if you listen to China talk about their challenges, dramatic changes in reorientation of structure of economy towards domestic demand, is every meaningful about the basic reform of the Chinese economy," said Geithner who is here for the G20 finance ministers and central bank governors meeting.

The G20 financial meeting discusses how to strengthen the support mechanism of the International Monetary Fund (IMF) against the eurozone debt crisis.

But analysts say it is hard to reach an agreement at the meeting as divergences among the G20 countries on the issue can't be resolved in the near future.

The European Union (EU) has urged the international community to pump more money into the IMF, but some members of the G20 oppose to the proposal as they think the resources of the IMF can not substitute a healthy and strong European rescue fund.