Geithner says G-20 nations broadly support US plan to promote more balanced growth

Geithner expresses optimism for deal on growth

PITTSBURGH — Treasury Secretary Timothy Geithner says the United States has a lot of support from other Group of 20 nations to move toward more balanced global growth.

Geithner expressed optimism that the G-20 leaders meeting in Pittsburgh will endorse the broad outlines of a U.S. proposal to set broad goals for countries to deal with huge imbalances in the economy such as large trade surpluses in China and record budget deficits in the United States.

Geithner says that China has already made a number of commitments to move away from export-led growth and to promote more domestic demand. Such a switch would help to reduce America’s huge trade deficit with China.