China and the United States on Wednesday vowed to join hands in fighting trade protectionism amid the ongoing global financial crisis and economic downturn.
Visiting Chinese Foreign Minister Yang Jiechi and U.S. Secretary of Treasury Timothy Geithner voiced their opposition against trade protectionism during a meeting on bilateral economic and trade relations and on issues concerning global financial and economic crisis.
The more difficult the situation is, the more resolute China and the United States will be in sticking to an open and win-win economic policy, Yang said.
The Chinese minister said China and the United States should take care of each other's interests and join hands in fighting trade protectionism.
Echoing Yang's opposition to protectionism, Geithner said the U.S. side was willing to handle properly issues that have surfaced in bilateral trade.
Both officials highlighted the importance for China and the United States to enhance cooperation and coordination at the time of financial crisis.
As the global financial storm continues to deepen and spread, Yang said, China and the United States should act in reflection of the fact that the two countries are in one boat, work together to safeguard the global financial stability, promote the healthy growth of world economy, and join hands in transforming the crisis into a new opportunity to further tap the potential of mutual cooperation.
Talking about the proposed mechanism of China-U.S. Strategic and Economic Dialogue, Yang said the establishment of such a mechanism was very important to enhance mutual trust and cooperation. He added that the Chinese side was willing to work with the U.S. side to help launch the mechanism at an early date.
Geithner said the U.S. side attached great importance to its relations with China. In the backdrop of the current global crisis, he stressed, U.S.-China cooperation is essential to the confidence of the international community and to an early recovery of the world economy.
The secretary said that the U.S. side looked forward to increasing coordination in macro-economic policies and cooperation in economic and financial fields with the Chinese side through the proposed mechanism of Strategic and Economic Dialogue.
Yang and Geithner also briefed each other on their domestic policies designed to stimulate economy and exchanged views on issues relating to the Group of 20 summit scheduled for early April in London and reforms widely expected in international financial institutions.
Yang is in Washington on a five-day working visit to the United States as guest of Secretary of State Hillary Clinton.
He held talks with Clinton earlier Wednesday and the two sides shared common ground on a wide range of issues.
Yang is expected to meet U.S. President Barack Obama on Thursday, according to the White House.
(Xinhua News Agency March 12, 2009)