China's manufacturing sector marked its biggest fall in three years amid eurozone woes and a weak US economy. But China appears unlikely to focus on boosting domestic consumption, which could help other countries.
Commerce Secretary John Bryson said the officials told him Monday the country will invest $1.7 trillion over the next five years inclean energy and other emerging technologies. He said they pledged a 'level playing field for US and other foreign suppliers.
US Treasury Secretary Timothy Geithner is keeping the pressure on China, after finance ministers meeting in South Korea this weekend seem to have staved off the immediate threat of a 'currency war.'
A survey of 23 experts finds deep concern about Beijing's large dollar holdings