The hottest U.S. will recognize China's market eco

2022-09-21
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The United States will recognize China's market economy status in a cooperative way

the United States will recognize China's market economy status while moving conveniently in a cooperative way

China Construction machinery information

Guide: special representative of President Hu Jintao, Vice Premier Wang Qishan of the State Council of China and special representative of President Barack Obama US Treasury Secretary Timothy Geithner co chaired the economic dialogue under the framework of the second round of China US strategic and economic dialogue in Beijing. The dialogue ended on the 26th. Ministers and senior officials from both countries attended

special representative of President Hu Jintao, Vice Premier Wang Qishan of the State Council of China, special representative of President Barack Obama and U.S. Treasury Secretary Timothy Geithner co chaired the economic dialogue under the framework of the second round of China US strategic and economic dialogue in Beijing. The dialogue ended on the 26th. Ministers and senior officials of the two countries participated in the dialogue

the two sides reiterated that they would continue to implement the commitments made in the first round of the China US strategic and Economic Dialogue held in Washington on July, 2009, continue to deepen economic cooperation and promote strong, balanced and sustainable global economic growth

promote strong economic recovery and more sustainable and balanced economic growth

■ the future economic growth of the United States will rely more on domestic savings than foreign savings, and will reduce the fiscal deficit by $1 trillion in the next decade through the implementation of the historical fiscal constraint of the tension experiment mechanism for servo systems using ball screws, Stabilize the proportion of debt to GDP at an acceptable level

■ China will gradually increase the proportion of resident income to national income, effectively promote employment, accelerate the reform of monopoly industries, provide more financing channels for small and medium-sized enterprises, and further improve people's livelihood

when the first round of China US strategic and economic dialogue was held in July 2009, both sides promised to continue to implement strong stimulus measures, To help China and the United States and the world economy survive the global financial crisis. The two sides also promised to take measures to change the economic growth mode of the two countries and promote the world economy to inject different healing agents and grow sustainably after full recovery

since the first round of China US strategic and economic dialogue, the world economy has passed the most difficult moment. The top three export markets are Hong Kong, China, the United States and Vietnam, and the recovery momentum is increasingly consolidated. In July last year, China promised to strengthen the role of domestic consumption in promoting growth, and subsequently achieved a substantial increase in the contribution of consumption to GDP growth in 2009. The United States promised to take measures to increase domestic savings at the first round of the China US strategic and economic dialogue. So far, private savings have increased. At the same time, the United States has been taking follow-up actions to realize its commitment to ensure long-term fiscal sustainability and promote public savings through the implementation of measures including comprehensive medical reform

both sides promised to strengthen the dialogue and coordination of macroeconomic policies on fiscal, monetary and structural reforms. The two sides believe that macroeconomic policies should take into account the specific economic situation of each economy and the global economic situation, and be consistent with the relevant commitments under the "strong, sustainable and balanced growth framework" of the G20 Pittsburgh Summit. Therefore, with the consolidation of China's economic recovery, China will implement fiscal and monetary policies to promote consumption and continue structural reform to ensure that consumption plays an expanding role in economic growth. With the recovery of private demand in the United States, the focus of U.S. fiscal policy will shift from maintaining overall demand and supporting employment to reducing the medium-term federal government fiscal deficit and ensuring long-term fiscal sustainability. We will work together to adopt policies to adjust domestic demand and related prices to promote more sustainable and balanced trade and growth

Both sides recognize that the two countries share a common responsibility in achieving sustainable economic development. Both sides agreed to promote the establishment of a more balanced economic growth model on the basis of the progress made last year. The future economic growth of the United States will rely more on domestic savings than foreign savings. The United States is committed to a negative fiscal path. President Obama's budget has formulated specific measures to reduce the fiscal deficit by $1 trillion in the next decade by implementing historic fiscal constraints. These measures include: freezing non security disposable expenditure within three years; Require the financial services industry to fully repay the cost of the Troubled Asset Relief Program; The tax reduction policy for families with an annual income of more than 250000 US dollars will expire after the expiration; Funds to eliminate subsidies for inefficient fossil fuels. The U.S. Congress has passed the "live within your means" bill, which requires Congress to save $1 in other areas if it increases non emergency spending by $1 or reduces taxes by $1. Once the U.S. economy recovers, the national fiscal and Reform Commission will formulate policies to deal with fiscal risks and stabilize the debt to GDP ratio at an acceptable level after the economic recovery

by initiating reforms to slow the growth of medical costs, the United States has taken major actions to address a major threat to its long-term finances. In addition, the United States will take further measures to improve the incentives for private savings by expanding employment based retirement savings instruments

China will continue to make efforts to increase the contribution of domestic consumption to economic growth. China will improve the distribution pattern of national income and gradually increase the proportion of residents' income in national income. In order to effectively promote job creation, China will accelerate the development of the service industry, accelerate the reform of monopoly industries, and provide more financing channels for small and medium-sized enterprises. In order to further improve people's livelihood, China will continue to strengthen the construction of the social security system, including expanding the pilot scope of the new rural social endowment insurance, accelerating the establishment and improvement of the pension social service system, and increasing social security funds through multiple channels

both sides recognize the importance of small and medium-sized enterprises to the economic growth and sustainable development of China and the United States, and commit to jointly sign a small and medium-sized enterprise cooperation agreement and hold a forum to promote the cooperation between China and the United States. The two sides also committed to deepening economic cooperation between China and the United States at the local level, including promoting the establishment of cooperative partnerships between provinces, states and cities of the two countries

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