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Is Biden on a Begging Trip in China?
Tuesday, August 16, 2011 22:41
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US Vice-President Joe Biden is flying to China for talks likely to focus on the economy after the downgrading of US debt and ensuing market turmoil.
China is the US government's biggest foreign creditor, holding $1tn (£608bn) of debt, and has called on it to do more to reduce its budget deficit.
Officials say Mr Biden will explain the finer points of a "very strong deficit reduction package" agreed by Congress.
He will also talk of "tremendous mutual interest" in global economic recovery.
The White House would not put it quite this bluntly but Vice-President Biden is hoping to reassure Beijing that President Barack Obama's administration has a handle on economic policy in the wake of ratings agency Standard & Poor's' downgrade.
