Top News

Paulson: China not economic enemy of US

(Xinhua)
Updated: 2007-03-05 08:39

WASHINGTON -- US Treasury Secretary Henry Paulson says that the relationship with China is very important for the United States and it should not perceive China as an economic enemy.

"I would say that our relationship with China is multifaceted and it's a very important relationship for the US And I don't believe we need to make China an enemy," said Paulson in an interview taped Friday for "This Week" on ABC and broadcast Sunday.

"I think China is - this relationship is an important relationship, and the economic relationship is an important part of the overall relationship," he said.

"And if we manage that relationship properly on a long-term basis, and if we manage the relationship - the overall relationship - with China properly, it's going to benefit both of our countries for a long time to come," Paulson said.

It is essential that both countries have strong economic ties, said Paulson, who will make his third visit to China this week as treasury secretary.

In the interview, Paulson also said he felt good about the economy and discounted the chance of an economic downtown.

"The consumer's strong. Exports have been greater than imports for quarters running, and they're adding to our growth," the secretary said.

"We've got a very healthy labor market. ... Inflation seems to be contained. And what really makes a difference to me is the average worker is now beginning to feel the benefits. Real income is up 2.1 percent for the average American worker over the last year. So I'm feeling good about the US economy," Paulson said.