Comments Subscribe to Personal Liberty News Feed Subscribe to Personal Liberty
 

New U.S. Envoy Assures China

BEIJING, Aug. 15 (UPI) — China, the largest holder of U.S. debt, can rest assured its investments are safe, the new U.S. Ambassador Gary Locke said in Beijing.

Locke said despite the recent U.S. credit-rating downgrade by Standard & Poor’s, buyers continue to acquire U.S. Treasury bonds, China Daily reported.

“It’s a clear indication that investment in the U.S. is safe, secure and that the economy, while having its challenges, is still strong,” he said Sunday.

More than half of China’s foreign-exchange reserves of $3.2 trillion are in U.S. bonds, but the downgrade has raised concerns in China about their safety. Beijing has urged Washington to take “responsible” measures to raise market confidence in the U.S. dollar and the U.S. debt, China Daily reported.

Locke, who arrived in Beijing during the weekend, said U.S. President Barack Obama has mapped out a “path ensuring the fiscal integrity” of the United States..

Locke, former U.S. commerce secretary, is the first Chinese-American to represent the United States in China.

He said his new job is to “build new friendship between the people of the U.S. and China, and to continue to expand our two countries’ growing cooperation and collaboration on key bilateral and international issues.”

When asked whether the United States will continue to sell arms to Taiwan, a sore issue with Beijing, Locke was quoted as saying U.S. policy toward Taiwan is very clear and that will not change.

UPI - United Press International, Inc.

Since 1907, United Press International (UPI) has been a leading provider of critical information to media outlets, businesses, governments and researchers worldwide.

Facebook Conversations

Join the Discussion:
View Comments to “New U.S. Envoy Assures China”

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.

Is there news related to personal liberty happening in your area? Contact us at newstips@personalliberty.com

Bottom
close[X]

Sign Up For Personal Liberty Digest™!

PL Badge

Welcome to PersonalLiberty.com,
America's #1 Source for Libertarian News!

To join our group of freedom-loving individuals and to get alerts as well as late-breaking conservative news from Personal Liberty Digest™...

Privacy PolicyYou can opt out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.