WASHINGTON,
Oct. 12 (Xinhua) -- U.S. Treasury Secretary Henry Paulson said Thursday that
China's economic development is "very, very important" to China and the rest of
the world.
"I really believe that a China that is a growing part
of the global economy is going to benefit the U.S. and benefit the rest of the
world," Paulson said in an interview with Fox News.
Paulson said that China's economic relationship is
very important with the United States and with the rest of the world.
"And the more constructive engagement we all have
together, the higher the cost of any kind of conflict or anything that would
undermine the global economic stability," he added.
Paulson noted that the United States has some very
important economic relationships, "but I really believe the most important
long-term economic relationship we're going to have is going to be our
relationship with China and vice versa."
Mentioning that some people are concerned that China
is somehow or other going to out compete the United States and overtake the U.S.
economy, Paulson said that "the thing I am most concerned about is that China
won't move ahead quickly enough with their reforms and that if they don't move
ahead quickly enough with their reforms, then they may have their own economic
issues."
China has got some formidable economic challenges, he
said, "I would like to believe they're going to continue with their reform
program and that they're going to accelerate the pace of those reforms."
"China needs to keep growing its economy, needs to
keep reforming its economy, needs stable economic relations around the world,
and I think that's very important for China," Paulson said. Enditem
