🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

China wants closer US relation, but not G2-official

Published 05/01/2009, 12:06 PM
Updated 05/01/2009, 12:08 PM

WASHINGTON, May 1 (Reuters) - China has gotten off to a good start with the Obama administration and wants deeper bilateral cooperation, but is not interested in a "G2" arrangement by which Beijing and Washington shape the global economy, a senior Chinese spokesman said on Friday.

Wu Jianmin, president emeritus of China's Foreign affairs University and a former top Foreign Ministry official, said the "the Chinese are very pleased" at a relatively hiccup-free relationship with Washington 100 days into the Obama era.

"The Obama administration succeeded in avoiding some uncertainties (like) at the beginning of the past administrations," he said, referring to Barack Obama's predecessor's spats with Beijing over Taiwan and other issues.

Although the two powers had a brief naval confrontation near China in March, Secretary of State Hillary Clinton visited China early this year, and Obama and Chinese President Hu Jintao met in London last month and launched a senior dialogue forum.

The G2 idea floated by some U.S. scholars as a way for the two important economies to tackle the global economic crisis does not appeal to China, which sees the concept mainly as a "wish to strengthen U.S.-China cooperation," said Wu.

"We look for a sort of a multilateral world, based on the international rule of law," he said.

"When you mention leadership, you scare Chinese, because in the eyes of the Chinese, leadership equates (with) hegemony," Wu told reporters in Washington.

China however welcomes the increased role it and other big developing countries enjoy in global economic affairs through the G20 gathering of industrialized and emerging economies, Wu said.

"Today the G7 is irrelevant. We need a larger grouping, a larger architecture," he said of the traditional seven-power industrialized grouping that met to manage the world economy.

(Reporting by Paul Eckert, Editing by Sandra Maler)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.