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China, U.S., to sustain stimulus, balance economies
WASHINGTON |
WASHINGTON (Reuters) - The United States and China agreed to maintain their economic stimulus efforts until recovery is achieved, according to a fact sheet released at the conclusion of two days of bilateral talks here.
The Treasury fact sheet said the United States in the talks pledged to keep up its recent gains in private savings and cut its budget deficits to a more sustainable level by 2013.
The Chinese, meanwhile, agreed to boost domestic consumption by building up a stronger safety net for its citizens, including improving pensions and health care and promoting a stronger consumer financial system.
(Reporting by David Lawder; Editing by Jan Paschal)
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