US and China agree cash injection

The United States and China pledged $20bn (€15.6bn) to help finance trade amid a global credit crisis today as they wrapped up high-level talks marked by a Chinese appeal to Washington to stabilise its economy.

“We are both committed to strengthening the global economy,” Treasury Secretary Henry Paulson, the US envoy to the Strategic Economic Dialogue, told reporters, standing with his Chinese counterpart, Vice Premier Wang Qishan in Beijing.