US, China set to grapple with critical economic issues
Monday, 10 December 2007
WASHINGTON, Dec 9 (AFP): With their economic woes mounting, the United States and China will hold high-level talks this week on key issues amid concerns over a tightly-controlled Chinese currency and protectionism.
The cabinet-level talks in Beijing will also tackle the prickly issue of safety of Chinese-made products that have been targeted in a spate of overseas safety recalls this year, with toys in the spotlight.
"The meeting comes at a delicate time, as a new group of leaders move into China's most senior positions," said Treasury Secretary Henry Paulson, who will lead the US side for the twice-yearly talks of the "Strategic Economic Dialogue" on December 12-13.
Among the changes in the Chinese leadership will involve Wu Yi, the Chinese vice-premier and Paulson's counterpart at the dialogue, who will be retiring early 2008. Both have struck good personal ties that have helped ease tensions between the world's richest and most rapidly growing economies.
The meeting will be preceded by a critical round of talks of the US-China Joint Commission on Commerce and Trade, which seeks to open market opportunities and resolve trade disputes between the two powers.
The cabinet-level talks in Beijing will also tackle the prickly issue of safety of Chinese-made products that have been targeted in a spate of overseas safety recalls this year, with toys in the spotlight.
"The meeting comes at a delicate time, as a new group of leaders move into China's most senior positions," said Treasury Secretary Henry Paulson, who will lead the US side for the twice-yearly talks of the "Strategic Economic Dialogue" on December 12-13.
Among the changes in the Chinese leadership will involve Wu Yi, the Chinese vice-premier and Paulson's counterpart at the dialogue, who will be retiring early 2008. Both have struck good personal ties that have helped ease tensions between the world's richest and most rapidly growing economies.
The meeting will be preceded by a critical round of talks of the US-China Joint Commission on Commerce and Trade, which seeks to open market opportunities and resolve trade disputes between the two powers.