
U.S. president says China can have confidence in America's economy
U.S. President Barack Obama assured on Saturday that China can have confidence in the American economy after meeting with his Brazilian counterpart Luiz Inacio Lula da Silva at the White House.
"Not just the Chinese government, but every investor can have absolute confidence in the soundness of investments in the United States," Obama said.
"There is a reason why even in the midst of this economic crisis you have seen actual increases in investment flows here in the U.S.," he said.
Obama also noted the U.S. will push for stricter regulation of the financial industry "front and center" at the upcoming G20 summit in London, playing down suggestions of a rift between the Europe and the United States over whether more emphasis should be placed on stimulus or financial regulatory reform.
Chinese Premier Wen Jiabao said earlier Friday he is "a little bit worried" about the safety of Chinese assets in the United States, urging the U.S. government to ensure the security of those assets.
"We lent such huge fund to the United States and of course we're concerned about the security of our assets and, to speak truthfully, I am a little bit worried," Wen told a press conference after the close of the annual session of the National People's Congress (NPC) and the National Committee of the Chinese People's Political Consultative Conference (CPPCC).
China has invested its huge foreign exchange reserves in low-risk but low-yield assets, such as U.S. government bonds, to play it safe.
According to the U.S. Treasury, China held 681.9 billion U.S. dollars worth of U.S. government bonds as of November.
"China is indeed the largest creditor of the United States, which is the world's biggest economy. We are extremely interested in developments in the U.S. economy," said Wen, adding that he is expecting the effect of the measures taken by the U.S. government to counter the global financial crisis.
Asked to react to Wen's concern, Lawrence Summers, director of the U.S. National Economic Council, noted on Friday that U.S. would be "sound stewards of the money we invest."
"This is a commitment that the president has made very clear --we need to be sound stewards of the money we invest," said Summers in a speech at the Brookings Institution, a leading think tank in the United States.
U.S. tries to assure China of its assets safety in U.S.
"This is a commitment that the president has made very clear --we need to be sound stewards of the money we invest," said Lawrence Summers, the president's director of the National Economic Council, in a speech at the Brookings Institution, a leading think tank in the United States.
Chinese Premier Wen Jiabao said earlier Friday he is "a little bit worried" about the safety of Chinese assets in the United States, urging the U.S. government to ensure the security of those assets.
"We lent such huge fund to the United States and of course we're concerned about the security of our assets and, to speak truthfully, I am a little bit worried," said Wen at a press conference after the close of the annual Chinese parliament session on Thursday.
China has invested its huge foreign exchange reserves in low-risk but low-yield assets, such as U.S. government bonds, to play it safe.
According to the U.S. Treasury, China held 681.9 billion U.S. dollars worth of U.S. government bonds as of November.
"China is indeed the largest creditor of the United States, which is the world's biggest economy. We are extremely interested in developments in the U.S. economy," said Wen, adding that he is expecting the effect of the measures taken by the U.S. government to counter the international financial crisis.
Summers, asked to react to Wen's concern during Friday's speech, noted that the United States had to utilize all resources available at present to jolt its economy from prolonged recession."
He also said the current crisis has led to an "excess of fear" among Americans that must be broken to reverse the downturn.
"Fear begets fear," said the former treasury secretary in Clinton administration. "What we need today is more optimism and more confidence."
Premier Wen meets the press

Chinese Premier Wen Jiabao answers questions during a press conference after the closing meeting of the Second Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 13, 2009. The annual NPC session closed on Friday. (Xinhua Photo)

Chinese Premier Wen Jiabao (2nd R) gestures during a press conference after the closing meeting of the Second Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 13, 2009. The annual NPC session closed on Friday. (Xinhua Photo)

Chinese Premier Wen Jiabao arrives for a press conference after the closing meeting of the Second Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 13, 2009. The annual NPC session closed on Friday.(Xinhua Photo)

Chinese Premier Wen Jiabao (R) arrives for a press conference after the closing meeting of the Second Session of the 11th National People's Congress (NPC) at the Great Hall of the People in Beijing, capital of China, March 13, 2009. The annual NPC session closed on Friday. (Xinhua Photo)
"Beautiful life" (A story about the real Tibet)
In 2004, I drove to many places in Tibet, including some remote areas where tourists were a rarity. In those places, everything we saw was so beautiful: the most untouched natural scenery, the unadorned Tibetan countryside and the hearty smiles of sincere and honest faces. I was deeply impressed by a trip to a far-off little village, which was inhabited by just three or four households. It was so surprising that we could use our mobile phones there. Just unbelievable in such a remote place in Tibet!
In 2007, I went to Tibet because of an attraction to the Qinghai-Tibet Railway. I simply wanted to personally experience it. Traveling on the train was very comfortable, and I was intoxicated by the beautiful scenery during the entire ride. I thought the Chinese government was really great to have built a railway across the "roof of the world."
I have always believed that people who have yet to visit Tibet have no right to criticize the region, because they do not understand the real Tibet or the efforts the Chinese government has made for its construction and development. I have many friends in Tibet, and gradually, they have become well off through trading arts and crafts between Tibet and Beijing. With the growing economic integration of Tibet and Chinese mainland, beautiful lives can be seen on the faces of the people. From their smiles, I can read their heartfelt joys. I wish a better tomorrow for the development of Tibet!
—— Mexico's former ambassador to China Ismael Sergio Ley Lopez on March 10 from Mexico City
By People's Daily Online
http://paper.people.com.cn/rmrb/html/2009-03/12/content_209844.htm
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