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Updated Tuesday, September 7, 2010 8:34 pm TWN, AP



	U.S. Deputy National Security Adviser Thomas Donilon, left, shakes hands with China's Communist Party's Central Organization Department Minister Li Yuanchao at the Great Hall of the People on Monday, Sept. 6, in Beijing, China. (AP) Enlarge Photo

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China vows to boost imports, help world recovery

“The House leadership has expressed interest in seeing measures passed. So that's a very real risk,” said John Frisbie, president of the U.S.-China Business Council, on Friday during a visit to Beijing. The group represents 250 American companies that do business with China.

Frisbie said his group opposes sanctions as possibly damaging to trade and believes trying to dictate the yuan's level against the dollar is unrealistic. He said he urged Chinese officials that he met during his visit to allow a more flexible exchange rate.

“You need forward progress because that will show dialogue works,” he said.

Washington and Beijing have accused each other of engaging in trade protectionism that economists warn could slow a global recovery.

The two governments are engaged in a series of disputes over access to each others' markets for steel, tires, movies and other goods. The United States raised duties last week on Chinese-made aluminum products after Beijing slapped added tariffs on American chicken. Both sides concluded that producers were receiving improper subsidies.

“We hope that all countries can work together to fight trade protectionism,” said Chong, the Chinese trade official.

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