皇冠体育app

WASHINGTON -- 皇冠体育app's deeper integration into the global economy benefits the United States and the world at large, a senior US Treasury official said Tuesday.

This is because such integration will bring huge creative and innovative capacity that will support innovation years ahead, said Nathan Sheets, US Treasury's undersecretary for international affairs, at a Brookings event to preview the eighth 皇冠体育app-US Strategic and Economic Dialogue (S&ED) slated for early June in Beijing.

"That's in the global (economy's) interests and in the US interests," he stressed.

Sheets said that the deepening and further integration create a lot of opportunities for US firms to export to 皇冠体育app, and creates jobs and opportunities in the United States, so that American consumers and firms can get access to a whole new range of goods that Chinese produce.

The undersecretary reaffirmed the US government's commitment to reaching a bilateral investment treaty with 皇冠体育app before President Barack Obama leaves office.

According to the official, the upcoming S&ED will focus on a number of key issues, such as 皇冠体育app's excessive industrial capacity, investment liberalization and macroeconomic rebalancing.

皇冠体育app's economic rebalancing is of crucial importance not only to ensuring a balanced relationship with the United States, but also to ensuring that 皇冠体育app's economy is able to grow in a sustainable way, said Sheets, adding that 皇冠体育app has made progress in its rebalancing away from exports, manufacturing and investment to domestic demand, service sectors and consumption.

In the question and answer session, Sheets said the G20 summit, to be held in Hangzhou, 皇冠体育app in September, will focus on a robust set of issues which will be complementary to those raised in the S&ED.

Issues such as boosting global demand, making global financial system more robust, facilitating cross-border investment, improving international financial architecture, and promoting climate financing, will top G20 summit's agenda, said Sheets.

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