World pays greater attention to China´s role: U.S. expert

Source: Xinhua | 04-04-2009 16:34

LOS ANGELES, April 3 (Xinhua) -- A U.S. economist lauded China's role in the G20 Summit, saying other countries were paying greater attention to what China 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 China was speaking about the role of the world currency, U.S. Treasury Secretary Tim Geithner retreated what he said because China is so important in helping fund the U.S. deficit.

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

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

Regarding China'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 China invested in other assets, the situation could be worse.