U.S., China to Work Closely with Economic Crisis

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The U.S. and China have pledged closer cooperation to deal with the global economic crisis.

The commitments came at the end of two days of high level talks in Washington, D.C. led by Secretary of State Hillary Clinton and Treasury Secretary Tim Geithner.
The two sides outlined common concerns, including the need to stabilize financial markets, work to restore economic growth, and create jobs.

The U.S. repeated the commitment to trim its budget deficits once the spending necessary to jump-start the economy and stabilize the financial system had been completed.

Towards the end of Tuesday's meeting, Clinton said discussions on a range of subjects would be critical to establishing a foundation that would let other countries settle future quarrels and work together on major global crises.

"Laying the groundwork may not yield a lot of concrete achievements immediately, but every step is a good investment," Clinton told reporters at the end of the scheduled talks.

China said it would be sending a senior general to the U.S. for talks later this year and would welcome U.S. generals in China as well.

Source: The Associated Press

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