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Biden's noodle diplomacy hailed

(Global Times)

08:07, August 19, 2011


US Vice President Joe Biden gives a thumbs up during a chat with a patron at a restaurant during lunch in Beijing Thursday. Biden's meal cost 79 yuan ($12.36) for five people. (Picture from Global Times)

US Vice President Joe Biden impressed the Chinese public Thursday by dining in a small restaurant in Beijing, while he and Chinese leaders vowed to deepen the two countries' economic partnership and expand high-level exchanges.

Biden started his second day in Beijing by meeting with his Chinese counterpart, Xi Jinping, at the Great Hall of the People.

"In the face of a complicated and fast-changing world, cooperation is the only correct choice of the two countries," Xi said. "China and the US are transforming their economic development modes and restructuring their economies, which has provided the two nations with good opportunities for cooperation."

"There is no more important relationship that we need to establish on the part of the US than the close relationship with China," Biden replied, adding that cooperation between the two sides has a significant impact on world economic stability.

Xi stressed the importance of maintaining high-level exchanges and pursuing common interests, while reiterating that Taiwan and Tibet-related issues are China's core interests and should be handled prudently and properly.

Biden's China tour, arranged during President Hu Jintao's visit to the US earlier this year, is the first by a senior US official since the outbreak of the US debt crisis.

Shi Yinhong, director of the US Study Center at the Renmin University of China, told the Global Times that the most important message Biden wants to deliver to Beijing, Washington's biggest creditor, is an assurance over the US economy.

"Beijing seeks Washington's commitment for the safety of its investment in US Treasuries, although Biden's promise may just be lip service," Shi said.

China has put about two-thirds of its foreign reserves, amounting to $1.17 trillion in June, into US Treasuries and other assets.

Unnamed US officials who attended the talks told Reuters that Xi expressed "great confidence" in the fundamentals of the US economy and "there was no expression of any concerns" from the two leaders.
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Finance 101 at 2011-08-3166.58.203.*
Of course China has put 2/3rd of their foreign reserves in America. Where else can you get the same return on your investment with the low risk? Only in America.
R.kaplan at 2011-08-2094.213.237.*
I hope for the sake of the chinese people, the chinese leaders will decided to leave the treasurebonds or trade them for technology firms in the usa. That is the only thing of worth. The americans should learn to work and pay for their debts.
  

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