VZCZCXRO3024
OO RUEHCN RUEHGH RUEHVC
DE RUEHBJ #1535/01 1590955
ZNR UUUUU ZZH
O 080955Z JUN 09
FM AMEMBASSY BEIJING
TO RUEHC/SECSTATE WASHDC IMMEDIATE 4386
INFO RUEHBUL/AMEMBASSY KABUL IMMEDIATE 0611
RUCPDOC/DEPT OF COMMERCE WASHDC IMMEDIATE
RUEATRS/DEPT OF TREASURY WASHINGTON DC IMMEDIATE
RUEHOO/CHINA POSTS COLLECTIVE IMMEDIATE

UNCLAS SECTION 01 OF 02 BEIJING 001535 
 
SENSITIVE 
SIPDIS 
 
STATE PASS FOR USTR 
 
E.O. 12958:  N/A 
TAGS: ECON EFIN PREL ECIN CH
SUBJECT: REPS KIRK-LARSEN MEET VICE PREMIER WANG QISHAN 
 
REF: (A) Beijing 1473; (B) Beijing 1500; (C) Beijing 1518; (D) 
Beijing 1523 
 
BEIJING 00001535  001.2 OF 002 
 
 
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PLEASE CANCEL. NEW CABLE WILL BE SENT UNDER NER MRN/MCN 
 
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BEIJING 00001535  002 OF 002 
 
 
he is a "little worried" as the responsible official, Wang is even 
more concerned.  That said, Wang pointed out that debate over 
reforming the international financial system should be viewed as 
part of a long-term process, not something that would be implemented 
in the near future or a viable way to fix current problems. 
 
¶7. (SBU) Wang said that for now, given America's economic 
pre-eminence and China's huge exposure to the fortunes of the U.S. 
economy, the United States is still "calling the shots" in the 
relationship, and power shifts to the borrower when it is as 
powerful as the United States. The convergence of interests made it 
impossible for China to do anything other than hope for an early and 
full U.S. economic recovery.  He was confident about the prospects 
for recovery, whether it took two or four or five years, pointing 
out that humankind had overcome far greater perils during the 20th 
Century's two world wars.  He also said that human progress, fueled 
by constant technological innovation, was unstoppable.  He said that 
innovation would be the key to solving global environmental problems 
without asking people to give up their cars and air conditioners. 
Finally, Wang said the three meetings of the G20 over such a short 
time span were both unprecedented and a clear sign that the world's 
leaders were seriously committed to working together, and this also 
gave him confidence about the future.  He noted that while there had 
been a consensus in the G-20 between China and the United States on 
how to respond to the global financial crisis and spur growth, there 
remand significant disagreement with and within Europe. 
 
¶8. (U) Representatives Kirk and Larsen did not have the opportunity 
to clear this message before departing. 
 
PICCUTA