Washington, July 28 (DPA) The US and China agreed to maintain aggressive measures to stimulate their economies until a global recovery takes hold, US officials said after talks with their Chinese counterparts Monday.
Both countries have launched massive stimulus packages to keep their economies afloat during the global recession, and each was 'grappling with the timing of the withdrawal', said David Lovinger, the US Treasury Department's senior coordinator for China affairs.
Lovinger told reporters that both sides agreed they should not cut spending 'too soon', risking another dip just as the economy is recovering.
But neither government wants to wait too long to apply the brakes: 'They have to take place at the right time and not let another set of imbalances, bubbles build up,' Lovinger said.