Clinton says US economic model works despite woes

By MATTHEW LEE | July 24, 2011 | 10:29 PM EDT

US Secretary of State Hillary Clinton walks alongside US Consul General to Hong Kong and Macau Stephen Young on her arrival in Hong Kong on Sunday July 24, 2011. The United States said that it has invited a top North Korean envoy to New York for "exploratory talks" on the possible resumption of the six-party negotiations on denuclearisation. Secretary of State Hillary Clinton said the North's vice foreign minister and former nuclear negotiator, Kim Kye-Gwan, would visit the US "later this week" for the talks -- the first such contacts for almost two years. (AP Photo/Laurent Fievet, pool)

HONG KONG (AP) — U.S. Secretary of State Hillary Rodham Clinton is in Hong Kong to extol the virtues of American financial policies and values despite the currently poor state of the economy and the stalemate over the national debt.

In a speech Monday to the U.S. Chamber of Commerce in the former British colony, Clinton will appeal to China and other Asian nations not to lose faith in the American model. U.S. officials say she will assure her audience that a deal on the debt will be reached and remind the chamber that the United States has recovered from economic crises before.

The officials said Clinton will urge Asia to embrace open, transparent and fair economic policies that have propelled growth. They spoke on condition of anonymity to preview the speech.