The two-day China-US Strategic and Economic Dialogue, taking place in Washington D. C. on Wednesday and Thursday, is a test of the world's two largest economies' sincerity about collaboration and their capability to handle their differences. While distracting topics such as cybersecurity may continue to make the headlines, trade and economic relations remain the business to attend to.|
Given the two countries' role in the world's economic landscape, any positive signal they send about strengthening bilateral trade and economic cooperation would not only bring more benefits to themselves, it would also help boost confidence in a global economic recovery.
As the title of a signed article in The Wall Street Journal by Vice-Premier Wang Yang suggests, China views the fifth S&ED as "an opportunity to strengthen US-China ties". The article, which reviews the dynamics of trade cooperation between China and the United States, as well as its importance, may at the same time be construed as an invitation to jointly exploit the opportunity to both countries' advantage.
Wang's statement that neither country can thrive without the other is based solidly upon the truth that bilateral trade has surged since the first round of the S&ED in 2006, from $267.6 billion to about $500 billion last year. And both sides know their shared interests go far beyond that.
Indeed, trade and economic cooperation has for years formed the cornerstone of China-US interaction, and both countries should continue to contribute to the good momentum that has been established.
In this year's S&ED dialogue, officials from both sides are expected to hold in-depth talks on expanding bilateral trade and investment cooperation. China wants the US to provide a fair and transparent environment for Chinese investment. It also hopes the US will take substantial actions to lift the ban on exports of high-tech products to China and will recognize China's market economy status as soon as possible.
These are deep-seated issues in bilateral trade, and a constructive and forward-looking approach is needed when addressing these issues. Elaborating China's view in this regard, Wang said in his article that the two countries should resolve their disagreements in trade through enhancing communication, deepening mutual understanding and promoting mutual trust.
For progress on some pressing issues in trade and investment to be made in this week's S&ED dialogue, it is essential that such a constructive approach should prevail.
(China Daily 07/11/2013 page8)