Increasing debt looms over White House, Wall St. fate

The US economy still fights against vigorous impacts of recession, which has hollowed the nation’s financial health.

The US diplomats fledge country’s international commitments and want to snatch the outsourced employment opportunities shifted to China and other developing countries.

” Dave Camp, a senator stated China is disrespectful over its international obligations and exploiting recession for its economic interests. In the speech, Camp stated that the current strategies followed by China have raised concern among US  lawmakers and diplomats.

Camp faulted the US administration and its strategies for the current trends in Chinese trade and emphasized over bringing inevitable changes in legislature to check on it.

Camp further stated that Beijing has stolen American business, employment opportunities and therefore, led to decline in industrial growth in the State. The list of its trade abuses is quite long, he added.

Gary Locke was unanimously chose as the next U.S. ambassador to China by the Senate, immediately after Camp finished his words.

Locke, a former Washington state governor, is outgoing Commerce Secretary. He called on the nation to pressurize China too to open its market for American products. He stated that China also needs to follow a flexible currency exchange rate and chech counterfeiting against the US goods and services.