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China, US dialogue of global significance

(Agencies/chinadaily.com.cn)
Updated: 2008-12-04 16:23

China's Vice-Premier Wang Qishan (L) speaks during the opening session of the 5th China-US Strategic Economic Dialogue in Beijing, December 4, 2008.[Agencies]  More photos

Beijing has called on Washington to stabilize its precarious economy and protect its investments in America as the two sides opened strategic economic dialogues, which is overshadowed by the churning crisis of the global economy.

"We hope the US side will take the necessary measures to stabilize the economy and financial markets, as well as to guarantee the safety of China's assets and investments in the United States," Vice Premier Wang Qishan told US Treasury Secretary Henry Paulson and other US officials at the Strategic Economic Dialogue in Beijing.

China is a major owner of US Treasury debt that finances Washington's budget deficit. The US dollar's recent weakness and the financial turmoil there have fueled Chinese anxiety about the safety of such holdings, analysts said. [Full Text]

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Talks take on global dimension
Restoring global confidence and preventing the current financial crisis from spreading, especially to developing countries, are key tasks facing the world now, Vice-Premier Wang Qishan told top officials from China and US on Thursday.

"For the first time during an SED, the US and China will focus on how we can work together through international forums to strengthen the global economic system," said US Treasury Secretary Henry Paulson, who leads the US delegation.

Wang said China has made important contributions to the global economy by keeping its economic growth steady, adopting pro-active fiscal and monetary policies, and raising domestic demand. [Full Text]

Columnist: Adios -- and let's talk again
There's an old saying in Texas, the home state of US President George W. Bush: If it ain't broke, don't fix it. And in Michigan, president-elect Barack Obama's home state (okay, they may now be trying to fix what is clearly broke), the gameplan when things were running well was: Make 'em bigger, and better.

So it is a bit perplexing that some Thomases who can't make up their minds in the United States are raising doubts about the continued well-being of the China-US Strategic Economic Dialogue, the fifth round of which began yesterday and ends today. [Full Text]

Call to combat protectionism
China and the US need to be persistent in their fight against protectionism amid the global economic turmoil, Minister of Commerce Chen Deming said on Thursday.

The fight against protectionism, removing trade barriers and pushing forward the Doha round of WTO talks are the top concerns of the two countries at the fifth Strategic Economic Dialogue (SED) in Beijing.[Full Text]

Seven eco agreements signed
China and the US Thursday signed seven ecological agreements under the 10-Year Cooperation Framework to explore concrete policies on energy security and protecting the environment. Among the agreements signed were "eco-partnerships" between Energy Future Holding Corp of the US and China Huaddian Corporation, and between Kansas-based Wichita and Jiangsu-based Wuxi. [Full Text]

China urges US to protect investment
China hopes to join with the United States to "actively promote" negotiation for a bilateral investment protection accord, said Chinese Vice Premier Wang Qishan here Thursday.

Wang made the remarks when addressing the opening morning of the fifth China-US strategic economic dialogue (SED). He said strengthening bilateral investment protection would help establish a fairer, more transparent and predictable environment for mutual investment. [Full Text]

Effective mechanism has strengthened ties
Vice-Premier Wang Qishan wrote an article on the fifth China-United States Strategic Economic Dialogue in the Wall Street Journal Asia Wednesday. Below is the full text of the article.

It is gratifying that the fifth China-United States Strategic Economic Dialogue (SED) will be held in Beijing when the two countries are about to celebrate the 30th anniversary of their diplomatic ties. [Full Text]

Paulson: Engagement with China yields results
US Treasury Secretary Henry Paulson said Tuesday that the engagement with China through the Strategic Economic Dialogue (SED) has helped yield many results.

We have learned that engagement works, that engagement can help achieve meaningful, tangible results that would not have been possible otherwise," Paulson told a Washington forum ahead of the fifth SED in Beijing this week. [Full Text]

Holding high hopes for joint solutions
The Sino-US Strategic Economic Dialogue (SED) will start its fifth two-day session on Thursday in Beijing, with all eyes on how the two major economies will face the global financial crisis together even as Washington prepares for a handover of power to the Obama administration next month. [Full Text]

Initiated by President Hu Jintao and his US counterpart George W. Bush in 2006, the semiannual dialogue has become a major channel for policymakers in the two countries to maintain frequent contact and enhance mutual trust.