China and US to stress common ground in talks
Source: Agencies |
May 10, 2011, Tuesday
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Print Edition
Print Edition
CHINA and the United States yesterday launched two days of talks in Washington, emphasizing common ground as they prepared to discuss irritants in their relations ranging from currencies and debt to human rights.
The annual Strategic and Economic Dialogue gives the world's two biggest economies a chance to manage, if not resolve, their often tense policy differences and both sides pledged to use the talks to that end.
"Only by discussing a diverse range of topics, including sensitive ones, can we help mitigate the risk of misperception and miscalculation," US Vice President Joe Biden said.
In a 45-minute opening session both sides struck familiar themes with US officials pressing Beijing on currency and human rights, while China - the United States' largest creditor - hinted at misgivings over US fiscal policy.
US Treasury Secretary Timothy Geithner acknowledged Washington has to get its debts under control.
During the opening ceremony, Chinese Vice Premier Wang Qishan conceded there were differences, but said the two countries had an "economic interdependence" that made it essential for both to find common ground.
"No side can do without the other," he said.
US Secretary of State Hillary Clinton said her country did not see China's growth as a threat and wanted to seek greater trust to work together with China on global issues.
She said both sides had much to gain from cooperation than conflict.
This year for the first time, top military leaders from both nations are taking part in an effort to ease tensions between the two nations that were heightened last year by US arms sales to Taiwan.
Geithner praised the efforts China had made in the economic area while saying more needs to be done.
He played down criticism he had made as recently as last week that China needed to move more quickly to allow its currency to rise in value against the US dollar.
Speaking in Treasury's ornate Cash Room, Geithner said: "Over the past two years, we have seen very promising changes in the overall direction of Chinese economic policy - towards a more flexible exchange rate, a growth strategy less reliant on exports and stronger protections for US companies operating in and exporting to China."
He said over the next two days of talks the two countries would "continue our dialogue on China's move towards a more flexible exchange rate with more open capital markets."
The leaders of the two delegations were due to meet US President Barack Obama yesterday.
The annual Strategic and Economic Dialogue gives the world's two biggest economies a chance to manage, if not resolve, their often tense policy differences and both sides pledged to use the talks to that end.
"Only by discussing a diverse range of topics, including sensitive ones, can we help mitigate the risk of misperception and miscalculation," US Vice President Joe Biden said.
In a 45-minute opening session both sides struck familiar themes with US officials pressing Beijing on currency and human rights, while China - the United States' largest creditor - hinted at misgivings over US fiscal policy.
US Treasury Secretary Timothy Geithner acknowledged Washington has to get its debts under control.
During the opening ceremony, Chinese Vice Premier Wang Qishan conceded there were differences, but said the two countries had an "economic interdependence" that made it essential for both to find common ground.
"No side can do without the other," he said.
US Secretary of State Hillary Clinton said her country did not see China's growth as a threat and wanted to seek greater trust to work together with China on global issues.
She said both sides had much to gain from cooperation than conflict.
This year for the first time, top military leaders from both nations are taking part in an effort to ease tensions between the two nations that were heightened last year by US arms sales to Taiwan.
Geithner praised the efforts China had made in the economic area while saying more needs to be done.
He played down criticism he had made as recently as last week that China needed to move more quickly to allow its currency to rise in value against the US dollar.
Speaking in Treasury's ornate Cash Room, Geithner said: "Over the past two years, we have seen very promising changes in the overall direction of Chinese economic policy - towards a more flexible exchange rate, a growth strategy less reliant on exports and stronger protections for US companies operating in and exporting to China."
He said over the next two days of talks the two countries would "continue our dialogue on China's move towards a more flexible exchange rate with more open capital markets."
The leaders of the two delegations were due to meet US President Barack Obama yesterday.
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