WASHINGTON - Treasury Secretary Timothy Geithner told us Monday that China is making progress but needed to change its model of economic growth it has opened two days of talks between the two largest economies.
Striking a positive tone in large part at the beginning of the strategic and Economic Dialogue with United States and China, Geithner said that the reforms needed by each country "" are not in conflict and the strengths of our economies are still largely complementary. ""
"Our challenge is to strengthen the foundations for future economic growth," he said.
"In China, based on the remarkable reforms over the past 30 years, the challenge is to lay the groundwork for a new model of growth, driven by domestic demand more, with an economy based on market and a more sophisticated financial system""," he said.
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