Will China work with the U.S. to improve its trade relations or be left out in the cold?
Yesterday, Textile World reported two U.S. trade officials from the Obama administration are speaking out to seek cooperation and diplomacy with China to address the economic crisis. The officials have spoken openly about its issues with U.S. trade relations with China,
"such as the trade deficit, currency manipulation, intellectual property violations and illegal subsidies; but they emphasized the need for a "positive, cooperative and comprehensive relationship.""
Timothy Geithner, U.S. Treasury Secretary states that the U.S. and China are already working together to build a strong global trade strategy to lessen the blow of the economic crisis and build a plan for its future, post recovery.
President Obama states that the United States needs a "new fundamental framework for trade" so Americans can feel the benefits of trade. The Obama administration would like the U.S. to have trade agreements that include a stronger labor and environmental standards.
U.S. Trade Representative Ron Kirk says the U.S. government is "committed to working with China."
