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Lew
was speaking to reporters on the sidelines of a G20 meeting of
central bankers and finance ministers being held in Shanghai.
"It is increasingly important to use all the levers of policy
that are available, and that means using fiscal levers as well
as monetary policy and structural reforms," he said.
"(There's a) need to avoid competitive devaluation, that's
competing in a beggar-thy-neighbor way for sharing a pie that's
either frozen or shrinking and it doesn't lead anywhere good."
Lew said he believed China had the necessary policy tools to
accomplish its economic transition, but that it needed to stick
to its reform agenda and communicate policies, especially those
on its exchange rate, clearly.
He also said that the U.S. economy was doing "quite well", with
strong job creation and private sector growth, and consumer
demand remaining strong.
(Reporting by Brenda Goh and Adam Jourdan; Editing by Jason
Subler; Editing by Sam Holmes)
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