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Backgrounder: China-US strategic economic dialogue

Source: | 05-23-2007 08:14

Special Report:   2nd meeting of SED

The China-US strategic economic dialogue is a high-level government-to-government forum aimed at finding long-term solutions to trade and economic irritants between the two countries. CCTV reporter takes a look at the history of the talks, and explains why their significance goes far beyond economics.

On one side sits the world's fastest developing country, and on the other, is the strongest economy.

The China-US strategic economic dialogue is an opportunity to probe for the solutions to many pending issues.

But more importantly, it serves as a platform for decision-makers to listen to ideas and views from across the table as well as across the Pacific.

The aim is to prevent misjudgment and keep the differing views from being turned into conflicts.

And that's why the theme of the first SED held in China was "China's development road and economic development strategy".

Wu Yi, Chinese vice premier, said, "We choose this as the theme because we feel that many people from the US know little about China and misunderstandings often occur. We hope that the talks will help the US to understand China's development path, as well as where it will lead to in the future. China's growth is not a threat to the US, instead, it provides opportunities for the whole world."

But as ideas are being exchanged, differences remain.

The complex nature of the disputes has pushed both sides for long-term views.

Henry Paulson, US treasury secretary, said, "We don't expect to resolve all disputes through one talk, efforts are needed from both sides."

The long-term perspective doesn't overlook short-term action.

Recent months have witnessed another round of China's efforts in cracking down on piracy and counterfeiting.

In the first quarter of this year, China destroyed some 36 million pirated discs.

And the Chinese currency has appreciated a further 5.7 percent since its revaluation in 2005.

It's been said, and it bears repeating, that a more harmonious trade relation between China and the US is on its way.

But, as the Chinese Vice Premier says, the key to the future is how the two sides deal with the current disputes now. And a crucial part of this is how China and the US keep their options open for views across the table.


Editor:Du Xiaodan