The dialogue is drawing wide attention in both countries. Ahead of the talks, a US expert from the Brookings Institute shared his views.

Kenneth Lieberthal is the director of the Center for Chinese Studies at the US-based Brookings Institute. He has high expectations of the dialogue.

Looking farther ahead, Lieberthal also expects a bright future for economic relations between the two countries. He pointed out that in recent years, the direct investment from Chinese companies in the US has increased rapidly and the forms of investment have become increasingly varied. Besides portfolio investment and share purchase, some Chinese companies have established branches in the US, and some have even tried to buy out American companies.

Lieberthal said the US' main concern right now should be improving the financial situation and cutting the deficit. Just like China, the US will also readjust the economic structure in the future. He also believed success in either country's reform will benefit the other, because China and the US are becoming more and more economically interdependent.