Biden Leaves for China to Discuss Bilateral Relations and Economy

U.S. Vice President, Joe Biden, today leaves for China, the early stage of his first Asian tour, which will review the progress of economic issues and bilateral relations, and seek a relationship with the country’s next authorities.

During his stay in China, U.S. Vice President will send the message to the authorities of the Republic that the U.S. is determined to tackle its fiscal challenges, in response to concerns that China has expressed on U.S. economic policy.

“The vice president will be in a good position to discuss the deficit reduction agreement that we recently completed,” said Under Secretary of the Treasury for International Affairs, Lael Brainard, referring to the agreement to increase the debt ceiling that cuts expected public expenditure from 2.1 to 2.4 trillion dollars.

“Clearly, America has the ability, willingness and commitment to tackle our major economic and fiscal challenges,” said the senior official.

The economic relationship between the U.S. and China has gradually gained greater global importance and interdependence in recent years, in which Beijing has taken control of about $ 1.2 trillion in U.S. Treasury debt, the largest foreign holder of world.

Meanwhile, the U.S., the world’s leading economic power, is one of the main customers of Chinese exports.

The vice president’s visit will have a significant economic content as well as an important political role.

Biden, who will also visit the Chinese city of Chengdu in the western province of Sichuan, will meet in Beijing with President Hu Jintao and Premier Wen Jiabao. But, significantly, spend most of the time with the vice president, Xi Jinping, the future leader of the country.

During his tour, the vice president will also visit Mongolia, where he will meet with the authorities on 22nd.

Between 22nd and 24th, the U.S. vice president will visit Japan, where he will meet with Prime Minister Naoto Kan and visit the city of Sendai to convey U.S. support for the country after the earthquake and subsequent tsunami that caused a nuclear accident and hundreds of victims in March.