China and the United States on Wednesday ended a key economic
dialogue n Washington in a spirit of agreement. In her closing
statement at the US-China Strategic Economic Dialogue, Chinese Vice
Premier
Wu Yi praised the new consensus seen between
the two countries and the positive results that were
achieved.?
"Thanks to careful attention and joint efforts from both sides,
the second meeting of the strategic dialogue achieved great
success," said Wu, acting as the special envoy of Chinese President
Hu Jintao.
"The economic and trade relationship between China and the US is
one of the most complicated in today's world," she said. "The SED
provides an excellent platform for both sides to further
understanding and trust in terms of strategic issues."
Meanwhile, the Chinese leader warned the US against the current
mood of rising protectionism and threat in the United States. Wu
asked for consultation and dialogue to become the norm instead of
threats and sanctions.
For his part, US Treasury Secretary Henry Paulson said that US
and China both understood that "getting the economic relationship
right is vital not only to our people, but to the world
economy."
Paulson, who co-chaired the Strategic Economic Dialogue with Wu
as the special envoy of President George W. Bush, also noted the
range of agreements reached during the SED.
"We agree that it is vital to the prosperity of both our
nations, that China rebalance its economic growth, encourage
consumption and spread development more broadly among its people,"
he said.
Both countries also agreed that "deepening our two-way trading
relationship will create jobs and give our citizens a wider variety
of choices and lower prices on goods," he added.
"We have built strong relationships since our inaugural meeting
in Beijing," said the Treasure chief, praising the outcome of the
first SED in December 2006, adding that bilateral relations will
"continue to grow stronger and produce on-going returns."
An aviation agreement reached on Wednesday will see daily
passenger flights from the US to China double by 2012, whilst air
cargo companies will enjoy almost unfettered access to the Chinese
market by 2011.
The two countries also renewed their commitment to WTO Doha
negotiations and will further discuss reducing or eliminating both
tariff and non-tariff barriers to environmental goods and
services.
A further agreement will see both sides promote policy
incentives to ensure the rapid and full commercialization of
advanced coal technologies and of carbon capture and storage
technologies.
On the front of the tourism industry, negotiations will be
launched that could ease restrictions for Chinese group tourism to
the US."
"Allowing tourism companies to arrange trips for Chinese
travelers to the United States is a significant step, since one in
seven jobs in the US is connected to tourism," said the US
delegation in a statement.
(Xinhua News Agency May 24, 2007)
