Economy

Markets

Industries

Insights

Reports

Events

China, US should jointly tackle economic crisis

(Xinhua)
Updated: 2009-02-27 14:26

China and the United States should jointly work for a win-win outcome in the face of the global economic crisis, speakers said at a conference on Thursday.

Related readings:  Govt 'working closely' on visit by Clinton  Clinton in Beijing 'to seek consensus'  Sino-US trade up 10.5% in 2008

China and the United States are two essential players in the world economy and are "in the same boat" as the worldwide economic meltdown is hurting both, speakers said at Tiger Ball 2009, a half-day conference hosted by the Asia Society.

The fact that US Secretary of State Hillary Clinton selected Asia for her first overseas trip underscores the strategic importance the administration of US President Barack Obama places in the region, speakers said.

It also reflects how China and the United States need the help of each other to overcome the crisis, they said.

Stapleton Roy, who formerly was twice US ambassador to China, said Clinton had delivered a positive and clear message that the United States wants to cooperate and coordinate with China.

Orville Schell, director of the Asia Society's Center on US-China relations, said the United States and China should join hands first in handling the economic crisis, and then cooperate on climate change and other issues of common interest.

The speakers also warned against protectionism during the crisis and urged the fixing of defects in financial regulations which caused the crisis.