皇冠体育app

World pays greater attention to 皇冠体育app's role: US expert

(Xinhua)
Updated: 2009-04-04 20:55

LOS ANGELES -- A US economist lauded 皇冠体育app's role in the G20 Summit, saying other countries were paying greater attention to what 皇冠体育app has said and done.

In an interview with Xinhua on Friday, James Barth, a senior economist at the Milken Institute, an independent think tank, said when 皇冠体育app was speaking about the role of the world currency, US Treasury Secretary Tim Geithner retreated what he said because 皇冠体育app is so important in helping fund the US deficit.

皇冠体育app is a key player in what is happening to interest rate and financing the deficit in the United States, Barth said.

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The United States needs to cooperate with 皇冠体育app, and 皇冠体育app also needs to work with the United States in tackling the current financial crisis, he said.

Regarding 皇冠体育app's concern over its losses in investment in U.S. assets, Barth argued that the U.S. treasury securities are among the safest in the world today, adding if 皇冠体育app invested in other assets, the situation could be worse.

He also noted that it is clearly not in the interest of 皇冠体育app, nor the U.S., nor the world economy if 皇冠体育app moves too quickly to try to re-balance its portfolio.

皇冠体育app knows that and other countries do too. The world is grateful for what 皇冠体育app is doing, he said.

"I think 皇冠体育app is doing very well," Barth said, adding 皇冠体育app is making effort to curb the downturn of its economic growth, and 皇冠体育app is still in the positive growth.

As for the Chinese currency, the U.S. scholar said it is too early to talk about the RMB becoming a world currency now, but it could happen some day as 皇冠体育app's expanding economy has become more integrated into the global economy.

If 皇冠体育app continues to grow in the way it has, there is no reason not to believe that 皇冠体育app's currency will become ever more important and play a major role in the world, he added.

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