Fed's Fisher says China won't hurt US interests

Dallas Federal Reserve President Richard Fisher said today that China would not do anything to hurt US interests because the fate of the two economic giants was closely entwined.

Dallas Federal Reserve President Richard Fisher said on Tuesday that China would not do anything to hurt US interests because the fate of the two economic giants was closely entwined.

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"China cannot succeed if the US does not succeed," he said at a speech sponsored by the Asia Society, noting that while China owns a lot of US Treasuries its economy is still depending on US consumer spending.

Fisher, who was answering questions after delivering a speech similar to one given in Tokyo last week, also said that he sees a strong case in favour of the dollar due to stronger capital returns in the United States.