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U.S., China should "stand together regardless of situation": Geithner

English.news.cn   2010-05-22 15:30:02 FeedbackPrintRSS

"You see some of the challenges in Europe now. But I think we are in a much stronger position to manage those challenges," he said.

He said the global economy was in a much stronger place today and a much stronger position to withstand the pressure coming from Europe.

He noted the U.S. dollar had been rising because there was quite a lot of confidence in the U.S. economy around the world.

He told Xinhua the Obama administration was going to tackle its deficit issue seriously. The deficit is a major concern for China, which is the biggest holder of U.S. government assets.

On financial regulatory reform, Geithner said "the financial crisis caused enormous damage, so we have moved very quickly, more quickly than the other major economies, to put in place very strong fundamental sweeping reforms of our financial system, to help make sure that the U.S. is a source of growth and stability, not a source of instability of the global financial system."

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