US – China Relations to develop No matter who Wins the Election


China and US to keep on developing positive ties, as the relations are not dependent on the November’s US Presidential Elections, Chinese Premier said in New York on Tuesday.

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Li, attending the United National General Assembly in New York said, “No matter who gets elected in the U.S. presidential election, I believe that China-U.S. ties will continue to grow steadily and in a positive direction.”

About the China’s economy growth Li said, “I can say here that in the third quarter of this year, or until the end of this year, China’s economy will maintain this momentum of steady growth.”

Li also pledged that China would not engineer a devaluation of its currency to boost exports for its economy, which is growing at its slowest rate in two decades. Some critics in Washington have charged that Beijing is still manipulating its currency, although the US Treasury says its assessment is that it is not undervalued.

Referring to a U.S.-China Bilateral Investment Treaty that has been long in negotiation given disagreements about access to sectors the sides deem sensitive, Li said as long as both countries took a strong and pragmatic approach, they would be able to reach a mutually beneficial agreement.

Li said that “China had decided to designate a Chinese investment bank as a clearing bank for renminbi business in New York and welcomed foreign banks in the city which met eligibility requirements to become clearing banks for the currency,” As an example of China's willingness to open up its markets.

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