Sunday, February 22, 2009

Clinton On Her Knees Before China

US Secretary of State Hillary Clinton Sunday urged China to keep buying US debt as she wrapped up her first overseas trip, during which she agreed to work closely with Beijing on the financial crisis.

Clinton and Chinese Foreign Minister Yang Jiechi largely agreed to disagree on human rights as they pledged future joint action on the economy and climate change.

The goodwill, also on display in her talks with President Hu Jintao and Premier Wen Jiabao, could raise hope for a new era of cooperation between the two largest greenhouse gas emitters and two of the world's top three economies.

Clinton stated: "We have to incur more debt. It would not be in China's interest if we were unable to get our economy moving again."

China is the top holder of US Treasury bills, with 696.2 billion dollars worth of the securities in December followed by Japan with 578.3 billion dollars, according to the latest official data from Washington.

Yang indicated Saturday that China would not deviate drastically from its US Treasury policies, but gave no overt promises either way.