US Treasury Sec delivers speech at China Academy of Sciences

Описание: (3 Apr 2008) SHOTLIST

++AUDIO QUALITY AS INCOMING++
1. Wide of news conference
2. Cutaway of reporters
3. US Treasury Secretary Henry M. Paulson taking to podium after greeting university official
4. SOUNDBITE: (English) Henry M. Paulson, US Treasury Secretary:
"Long term structural challenges confront both of our economies. For the United States the challenge is to save more and spend less, for China the challenge is to save less and consume more."
5. Cutaway of reporter asking question
6. SOUNDBITE: (English) Henry M. Paulson, US Treasury Secretary:
"Adopting advanced technology will increase China's energy efficiency and reduce the emissions of greenhouse gas and harmful pollutants. Bringing this technology to China is hindered by the high tariff and non-tariff barriers that China places on environmental goods and services."
7. Cutaway of photographers
8. SOUNDBITE: (English) Henry M. Paulson, US Treasury Secretary:
"And again, that's why I made the point I made on tariffs. Because there is something that doesn't seem economically sensible, and doesn't seem morally right to, to not be using clean technologies and charging a tariff on them. So I think that is one area where we can all work together."
9. Cutaway of audience listening
10. Wide of Paulson leaving podium


STORYLINE

The US Treasury Secretary addressed China's environmental academics on Thursday in Beijing in a bid to encourage more spending on green high technology products that the US can sell to them.

Henry M. Paulson focused on the diversity between both countries' economic models during his speech at China's Academy of Sciences.

"Long term structural challenges confront both of our economies. For the United States the challenge is to save more and spend less, for China the challenge is to save less and consume more," he told the audience.

The US faces an ever growing trade deficit with China and needs to find products that the booming economy will buy from American producers to stem the flow of money away from the US.

The US has a clear production and technological advantage on many high tech items, but defence related goods and high tech products that might eventually have military applications - like satellite technology are restricted.

China claims that they would like to purchase more but cannot.

The US hopes that at least with energy efficient and environmentally sound products they can appeal to China's obvious environmental needs to build a sustainable market for American goods and services.

Paulson said that adopting advanced technology would increase China's energy efficiency and reduce the emissions of greenhouse gas and harmful pollutants.

However, he added that bringing this technology to China was being hindered by the high tariff and non-tariff barriers that China places on environmental goods and services.

On Wednesday Paulson met Chinese President Hu Jintao as part of his two-day visit to the country before the new round of Strategic Economic Dialogue (SED) between the US and China.

China and the US had agreed to hold their fourth round of the SED in Washington in June this year.

Launched in September 2006, the biannual economic strategic dialogue between Beijing and Washington serves as a platform to discuss long-term, strategic and comprehensive issues in the bilateral trade relationship.

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