Seeing Will Be Believing

Ashby Monk

Excerpts from the U.S.-China Joint Statement:

“The two sides are determined to work together to achieve more sustainable and balanced global economic growth…

The two sides will further enhance communication and the exchange of information regarding macro-economic policy, and work together to pursue policies of adjusting domestic demand and relative prices to lead to more sustainable and balanced trade and growth. China will continue to implement the policies to adjust economic structure, raise household incomes, expand domestic demand to increase contribution of consumption to GDP growth and reform its social security system. The United States will take measures to increase national saving as a share of GDP and promote sustainable non-inflationary growth. To achieve this, the United States is committed to returning the federal budget deficit to a sustainable path and pursuing measures to encourage private saving. Both sides will also pursue forward-looking monetary policies with due regard for the ramifications of those policies for the international economy…

The two sides recognize the importance of open trade and investment to their domestic economies and to the global economy, and are committed to jointly fight protectionism in all its manifestations. The two sides agreed to work proactively to resolve bilateral trade and investment disputes in a constructive, cooperative, and mutually beneficial manner. Both sides will expedite negotiation on a bilateral investment treaty.”

 

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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