He said Americans were already moving to boost their personal savings rates. Economists have long argued that is necessary to controlling US trade deficits because it means Americans are not consuming as much in imports from China and other countries.
“We are committed to taking measures to maintaining greater personal saving and to reducing the federal deficit to a sustainable level by 2013,” Geithner said at the opening session of the talks.
Also See: Working together, US, PRC can help world’s economy
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