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Geithner says China believes in U.S. economy

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The Washington Post

Published: June 3, 2009

BEIJING - Even as China's state media slammed the country's massive U.S. debt purchases, U.S. Treasury Secretary Timothy Geithner said Tuesday that China's leaders believe in "the basic resilience and dynamism of the U.S. economy."

Geithner said the economic and finance officials he met with during his two-day trip did not repeat concerns they have expressed publicly the past few months about the deteriorating value of their holdings of U.S. Treasuries or the U.S. dollar's position as the world's dominant reserve currency.

"What I sense is a fair amount of confidence, not just in the basic underlying strength and resilience of the U.S. economy, its dynamism, but in our capacity not just to solve this crisis, get growth back on track, but to go back to living within our means," Geithner told a small group of reporters.

The Washington Post

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