US Treasury secretary to visit China

BEIJING, May 19 Xinhua U.S. Treasury Secretary Timothy Geithner announced the end of May to visit China. There are plenty of speculation that he is here to ask China to further open up its markets to U.S. products or to seek China to buy more U.S. Treasuries. The US Wall Street Journal 18th published its signature article pointing out that Mr Geithner's trip may also have the intention to "learn from" China. The article extracts the following: A closer look at the three "big packages" that Mr Geithner has given to the American people since he took office-to help the president launch a more than 700 billion-dollar stimulus package, a "toxic asset" takeover plan for the banking sector, and a "stress test" in the banking sector-it is easy to see that they all share a common　　Hanging people's appetite, skin more filling less. The three events, which were well received at the start of the market, have indeed boosted investor sentiment, as evidenced by the rise of the US stock market on March 9 to a 30%-year low. The problem is that these measures have not really pushed the U.S. economy into the path of recovery. Geithner announced in Wednesday that five encouraging developments in the US financial system but he did not say whether the monthly decline in U.S. business and consumer lending had been effectively reversed, and without that reversal, it could not be said that the government's stimulus plan effectively played a role in stimulating private investment and consumption; he didn't say "banking". What are some of the new developments in the "toxic asset" takeover plan, as some have said, that investors have been so interested in the plan? As for his first-hand banking stress tests, it has long been pointed out to be a mocking test.　　In fact, Geithner has admitted this month that the US economy is in danger of a recovery that will take years. The problem is that investors are less patient and need to find signs of economic recovery right away. More than 30% of the run-up in the US stock market was based on the "real" signs of recovery. Then investors suddenly find that everything is "not so bad", and that signs of real economic warming are still elusive. The US stock market fell 5% per cent last week, the biggest one since the rally began. Already, research agencies have warned that America's economic trajectory is more likely to be a square root sign: Falling, rising, and then sideways sorting.　　Now that there has been a fall and a rise, if, as these people expect, the US economy will start "a few years" of horizontal consolidation, has the Sanbang Geithner been able to do anything new to maintain the confidence of the American people? The Chinese say confidence is more important than gold. Perhaps because of this feeling (Mr Geithner had lived in China in his youth and understood Chinese), Geithner decided to come to China to learn from it. He must wonder why China has been able to meet its economic growth goals on schedule. (Liu Yan)