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Studio interview: US Treasury Secretary visits China

CCTV.com

05-14-2014 06:06 BJT

US Treasury Secretary Jacob Lew concluded his visit to Beijing on Tuesday evening. During his two days in the capital, he met with Chinese Premier Li Keqiang, Vice Premier Wang Yang and central bank Governor Zhou Xiaochuan. Full story >>

Let’s bring in Dr. Simon Baptist, Chief Economist at the Economist Intelligence Unit to talk more about the U.S. treasury secretary’s third trip to China since taking office.

Q1. Secretary Lew’s agenda this time: China’s reform efforts, a more level playing field for U.S. businesses, exchange rates and intellectual property rights. Walk us through your thoughts on this agenda.

Q2. Chinese financial reforms have gained speed since the last China-U.S. Strategic and Economic Dialogue. How can the U.S., as the world’s most developed financial market, better engage and cooperate with a maturing financial market in China to ensure global financial stability?

Q3. The yuan’s depreciation against the dollar this year and the dollar-yuan exchange rate is one of Lew’s concerns that he addressed during his visit. He recently said that should the dollar appreciate more against the yuan, it would "raise particularly serious concerns." Are these concerns warranted given China’s growth is moderating and it should be natural to see a currency weakens when that happens?

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