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China, USA commit to free trade

China, USA commit to free trade article image

Following two days of bilateral talks that concluded yesterday, China and the USA have committed to promote free trade and fight climate change. US Treasury Secretary Timothy Geithner reported that the two economic giants would work together to lead the world in economic recovery and resist protectionism. "We agreed to undertake policies to bring about sustainable, balanced global growth once economic recovery is firmly in place," he said. This included agreeing to treat each other's companies equally when foreign-owned firms tendered for government contracts. The world's two biggest carbon emitters also signed a memorandum of understanding to prioritise the fight against climate change. "[The] agreement should send a clear signal that the United States and China are ready to work together on clean energy and climate change and sets the stage for what I hope will be many years of close cooperation," said US Energy Secretary Steven Chu.

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