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Obama: China knows it cannot sustain export-driven growth model

February 22
17:52 2016

By Roberta Rampton WASHINGTON (Reuters) – U.S. President Barack Obama on Monday said China recognized it could not sustain an export-driven growth model indefinitely but that it would take time to change. Speaking to state governors at the White House, Obama urged them to press the U.S. Congress to approve the Trans-Pacific Partnership trade pact to boost U.S. exports in a region where China is "the 800-pound gorilla." Obama said it was tempting for China to try to solve its short-term problems by dumping state-subsidized goods into the U.S. market but said his administration had made clear to China that would not work, Obama said. "They recognize that they can’t forever sustain an export-driven growth model, but it’s going to take some time and it’s tempting for them to solve short-term problems by just dumping a bunch of state-subsidized goods into the U.S. market," Obama said in response to a question raising concerns about China's exports of iron ore.

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