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Geithner: U.S., China Must Restore Gobal Economy

STEVE INSKEEP, Host:

NPR's business news starts with U.S. economic ties with China.

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INSKEEP: Treasury Secretary Tim Geithner is in Beijing for talks with his counterparts from China. Geithner studied in China as a college student nearly three decades ago, and now he is hoping to smooth out the rocky trade relationship between the two countries. China is America's banker, its biggest creditor, holding $768 billion in Treasury bills. And some critics also blame China for the loss of many U.S. manufacturing jobs. Geithner said he'd like to reshape the relationship into one that's more balanced. The model he suggested was that between the United States and Europe's leading economies. The Treasury secretary also says the global recession appears to be easing, but he adds the U.S. and China need to make some changes to help restore the world economy to health. Transcript provided by NPR, Copyright NPR.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.