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US Eager to See China's Growth Continue: O'Neill
Visiting US Treasury Secretary Paul O'Neill said Monday that the United States is eager to see China's growth continue.
He made the remarks in a prepared speech when addressing the University of International Business and Economics Monday morning.
O'Neill said that all the countries around the world have a moral obligation to contribute to the betterment of people's lives and the growth throughout Asia is crucial to global prosperity.
"China is experiencing strong economic growth, little affected by the slowing of the rest of the world," he said, adding that the steps China has taken to free up the economy have supported the growth, especially in the cities and coastal regions.
He said that China has successfully managed foreign joint ventures and welcomed wholly foreign-owned companies as well, creating higher paying jobs for millions of workers.
He said that China has allowed foreign firms to profit, which is crucial to ensuring a continued flow of investment into China, continuing industrial job creation and technology transfer to the benefit of domestic entrepreneurs.
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