Foes turn friends? US-China sign $45 bn deals

New York, Jan 20: President Barack Obama's win-win policy is helping the US government to put the dipped economy back on track. The Chinese President Hu Jintao's high-profile state visit, had assured 200,000 jobs for Americans by signing business deals worth $45 billion.

The agreement included China's final approval to purchase 200 Boeing aircraft for $19 billion, for delivery between 2011-13. According to the US officials this contract will put 100,000 Americans back to job.

"We value China's support for our products and its confidence in Boeing. With the outstanding support provided by the United States Government, this deal is a win-win for the Boeing-China partnership which is approaching its 40th anniversary, “ said CEO of Boeing Commercial Airplanes Jim Albaugh.

Sources said that the deal involved Honeywell, Caterpillar and Westinghouse Electric, a unit of Japan's Toshiba Corp.

Both the nations underplayed the differences and focused areas of cooperation. Obama, at the state's dinner announced plans to cooperate on China's nuclear security and to loan two Chinese panda's to Washington's zoo.

On Thursday, Jan 20 Hu will address trade and economic concerns of the US-China Business Council in Washington.

OneIndia News