Washington urges China to open market further

0 Comments | AFP, May, 2007

POTSDAM, Germany (AFP) — Washington on Saturday implicitly called on China to make its economy more accessible to US investment after Beijing said it would entrust US private equity company Blackstone with 3.0 billion dollars (2.2 billion euros) to manage.

US Deputy Treasury Secretary Robert Kimmitt, speaking to reporters here after a Group of Eight finance meeting, declined to comment specifically on the Blackstone deal.

But he said: "We would like to see to the greatest extent possible around the world the free flow of capital across borders, including direct foreign investment.

"We welcome that investment into the United States. It's responsible for over five million jobs in the US, 4.0 percent of our workforce ... We want that foreign capital to come to...