US, China to cooperate more on macroeconomic, financial policies - India News and Travel Times Provides India-centric and other News and Features

The United States and China on Tuesday agreed that there was a greater need for both to cooperate better on macro-economic and financial policies. Presidents Hu Jintao and Barack Obama said that China and the United States will start preparations as soon as possible for the second round of the China-U.S. Strategic and Economic Dialogue scheduled for next summer in Beijing. Both also said that the two countries will continue implementing the agreements reached at the first round of the dialogue last July in Washington. Both said that China and the United States have agreed to continue dialogue and cooperate in macroeconomic and financial policies as the the recovery of the global economy remains unsteady. Both also exchanged views on the current global financial situation and held that given the positive signs of the recovering global economy, the foundation of it was far from solid. Both said that China and the United States apreciate the role of the G-20 summit in coping with the global financial crisis "China and the United States would work together with all other members to fully carry out the commitments of all G20 summits and continuously strengthen the role of G20 in the management of the global economy, while pushing forward the international financial system reform and increasing the voices of developing countries on the global financial arena by ensuring that they are better represented," Hu said.