Treasury Secretary Henry Paulson said in a speech to the National Committee on U.S.-China Relations Tuesday evening that China would play a significant role in helping the rest of the world recover from financial crisis. James Oliphant writes on the Chicago Tribunes Washington politics blog The Swamp, “It’s clear that from Paulson’s perspective, the strength of the Chinese economy can serve as a buffer against the chaos in the American and European markets.”
According to Paulson:
… today more than ever the world is looking to China to be a big contributor to global economic growth. While some see China as a threat that must be countered or contained, I believe that the only path to success with China is through engagement. We must recognize that China’s growth is an opportunity for U.S. companies and consumers, for our producers, exporters and investors. A stable, prosperous and peaceful China is in the best interest of the Chinese people, the American people and the rest of the world.
The rest of Paulson’s speech here.