David H. McCormick
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David H. McCormick is the Under Secretary for International Affairs within the United States Department of the Treasury. He was sworn in on August 14, 2007. Previously, he served as Deputy National Security Advisor to the President for International Economic Affairs. Prior to that, he had been the Under Secretary of Commerce for Export Administration,[1] and later Under Secretary of Commerce for Industry and Security.[2]
Before his government service, he had been President and CEO at FreeMarkets and President of Ariba. He also worked as a consultant for McKinsey & Company.[1] David McCormick graduated from the U.S. Military Academy at West Point with a mechanical engineering degree, and with a Ph.D. from the Woodrow Wilson School of Public and International Affairs at Princeton University.. He is a former Army officer and a veteran of the first Gulf War.[1]
[edit] Under Secretary of Commerce for Industry and Security
As Under Secretary of Commerce for Industry and Security, he announced at a briefing in Beijing that the United States is looking at a "qualified end-user" program that would loosen its technology export restrictions to some Chinese companies. The intention of the policy was to make American technology easier to import for Chinese companies with a record of using it for civilian purposes.[3] He co-chaired a two-day meeting of the High Technology Cooperation Group with Shyam Saran, India's foreign secretary, in December 2005. The Group reviewed recent developments in trade and export controls.[4]
[edit] Under Secretary of the Treasury for International Affairs
As Under Secretary of the Treasury for International Affairs, David McCormick stated a "measured" response to global credit market disruptions was needed rather than a wholesale application of new regulations. He and Under Secretary for Domestic Finance Robert Steel called for the Group of Seven's financial stability watchdog to produce a detailed report on the root causes of current market problems for the October meeting of G7 finance ministers in Washington.[5]
David McCormick has said that the United States and China should "step up" cooperation.[6] He has also said that Chinese economic growth is unlikely to be hindered even if China makes its currency more flexible.[7] While praising the People's Republic of China for pulling 250 million people out of poverty, he criticized China for policies that are "responsible for the buildup of large and rising imbalances."[8]
[edit] References
- ^ a b c "U.S. Treasury - Biography of David H. McCormick, Under Secretary for International Affairs". Retrieved on September 21, 2007.
- ^ "Biography - David H. McCormick". Retrieved on September 21, 2007.
- ^ "Arms sales to become more competitive in EU", International Herald Tribune, May 22, 2006.
- ^ "India, US pledge greater cooperation in technology", Daily Times, December 2, 2005.
- ^ Somerville, Glenn. "UPDATE 2-U.S. Treasury-Need measured response to credit woes", Reuters, September 13, 2007.
- ^ Xinhua. "'US, China should step up cooperation'", Chinadaily.com.cn, September 20, 2007.
- ^ Associated Press. "Flexible currency will not hinder China growth: US official", Yahoo News, September 20, 2007.
- ^ AFX News Limited. "China generates 'large, rising' imbalances - US Treasury official", Forbes.com, September 19, 2007.
