Aug. 19 - U.S. Vice President Joe Biden meets local business leaders in China, encouraging competition and investment between the world's two largest economies. Toshi Maeda reports.
U.S. Vice President Joe Biden got down to business in Beijing Friday (August 19), meeting local business leaders and encouraging competition on the second day of his visit to China. (SOUNDBITE) (English) U.S. VICE PRESIDENT JOE BIDEN, SAYING: "Competition is healthy. It is good - it has awakened us. It has regenerated us. It is nothing but welcomed on the part of the United States." Biden also stressed the U.S. government welcomes investment from Chinese companies. (SOUNDBITE) (English) U.S. VICE PRESIDENT JOE BIDEN, SAYING: "We, President Obama and I, we welcome and encourage and see nothing but positive benefits flowing from direct investment in the United States from Chinese businesses and Chinese entities. It means jobs. It means American jobs." Meanwhile, Biden's Chinese counterpart, Vice President Xi Jinping, said China is confident in its own economic growth, promising there will be no "hard-landing." (SOUNDBITE) (Mandarin) CHINESE VICE PRESIDENT XI JINPING, SAYING: "We are confident that we are able to keep steady and fast economic growth. There will never be a so-called hard landing for the Chinese economy." Biden's five-day visit to China is focused on building relations with his counterpart Xi, who is likely to become China's next president, and reducing distrust between the world's two largest economies. Toshi Maeda, Reuters.