19 Nov 2013
US Treasury Secretary Lew assures China reform commitment is serious
FXstreet.com (Barcelona) - US Treasury Secretary Jack Lew, who took part in a conference organized by the WSJ on Tuesday, said that the US economy has been improving, with the continuing positive trend in employment. However, he expressed his concerns over unsatisfactory economic growth.
Furthermore, Lew, freshly back from a trip to Asia, commented on China's reform plan unveiled last week, saying that it was a serious undertaking, as the country's leaders are conscious that reforms are necessary if growth near 7% is to be maintained. He said that Chinese officials he spoke to did not seem overly worried about the approaching US debt ceiling deadline, but that they asked about the advance in talks on raising it.
"I think that they understand that we went through a noisy political process, but in the end we did what we told them we would do, which is stand by the full faith and credit of the United States," Lew said.
Furthermore, Lew, freshly back from a trip to Asia, commented on China's reform plan unveiled last week, saying that it was a serious undertaking, as the country's leaders are conscious that reforms are necessary if growth near 7% is to be maintained. He said that Chinese officials he spoke to did not seem overly worried about the approaching US debt ceiling deadline, but that they asked about the advance in talks on raising it.
"I think that they understand that we went through a noisy political process, but in the end we did what we told them we would do, which is stand by the full faith and credit of the United States," Lew said.