China, US Express Outlook on the Upcoming SED

The global financial crisis is overshadowing US-Chinese trade relations and adds significant importance to the upcoming 5th Sino-US Strategic Economic Dialogue, or SED. One day ahead of the meeting, officials from both sides expressed their hope to maintain a productive relationship. Yunfeng has more.

Reporter:

Designed for rapport-building more than negotiation, the two-day talk will kick off Thursday in Beijing. Given the unsteady world economy, the two sides are adding the issue of managing risk to the already broad agenda of trade, energy and the environment.

Chinese Foreign Ministry spokesman Liu Jianchao on Tuesday said China hopes the upcoming 5th Strategic Economic Dialogue between the two sides will be successful.

"This mechanism plays an important role in the development of Sino-U.S. relations. China is willing to enhance trade and economic cooperation with the next U.S. government to benefit people in both countries."

On the same day, US Treasury Secretary Henry Paulson also stressed the importance of the SED between the two huge, increasingly interlinked economies.

"The US and China are the engine of global economic growth. The strength of our economy is not only critical to our citizens, but to people at every corner of the world. A stable, prosperous and peaceful China is in the interest of Chinese people, the American people and the rest of the world."

Addressing questions over whether US President-elect Barack Obama will continue the talks, experts believe the dialogue would then have more scope.

Jin Canrong is the Deputy Director at the Centre for American Studies at China's Renmin University.

"I think this time, if they can get more detailed agreement on energy, environment, investment protection; this dialogue will have some far reaching impact and will help this mechanism dialogue be resumed in another name under the new administration."

Jin Canrong added that the 2008 round of talks will focus more on how to maintain trust and how Sino-US ties will develop during the transition of power in the US.

Yunfeng, CRI news.