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US makes progress to win back trust on debt: Geithner

By Li Xing and Tan Yingzi (chinadaily.com.cn)
Updated: 2011-05-04 09:21

Washington - US treasury secretary Timothy Geithner said the US is making progress in winning back the trust in its ability to manage its debt.

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"They (The Chinese) are never going to worry more than we are," he said in response to the question of China as the largest holder of American debt during a media briefing with the US-China Business Council in Washington.

He said the US is in the process of rebuilding its financial systems and the trust after the crash. He said the US has made progress in getting economy growing again with much stronger finances.

"We've got to move now to the next obvious challenge to start framework for fiscal consolidation and stability, bring the debt down," he said.