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Clinton, Geithner Continue “Constructive” Talks On Day 2 Of U.S.-China Dialogue
Washington, D.C. (AHN) – The first U.S.-China Strategic and Economic Dialogue continues on Tuesday after a day of what Obama administration officials called “constructive” talks on bilateral efforts to address the global economic crisis and climate change. The two-day dialogue closes later in the day with a communique, and press conferences by Secretary of State Hillary Clinton, Treasury Sec. Timothy Geithner and their Chinese counterparts.
Geithner led discussions on the economy along with Vice Premier Wang Qishan. He was joined by a number of administration officials, including Federal Reserve Governor Ben Bernanke, National Economic Council chairman Larry Summers, and U.S. Trade Representative Ron Kirk.
Tuesday’s talks will be about investment policies, trade and strengthening regulation in the financial sector, according to Loevinger. A communique will be released that will outline actions both nations agree to undertake over the next several years.
On climate change, Vice Premier Xie Zhenhua discussed “substantial steps” that Beijing is implementing to limit CO2 emissions.
“The level and the breadth of Chinese and U.S. participation highlighted the importance of the issue to both countries and the degree to which climate and clean energy are becoming increasingly seen as interrelated to both economic and national security issues facing both countries,” said Todd Stern, special envoy for climate change issues at the State Dept.
The Obama administration is seeking to strengthen ties with China, saying few global problems can be solved without cooperation from a nation with a GDP of $4 trillion dollars and a strategic interest in North Korea.
The dialogue was established in April during a meeting between President Barack Obama and Chinese President Hu Jintao at the G20 Summit in London.
Obama opened the dialogue with an address that called for Beijing to open up its domestic markets to American imports as well as energy-efficient technologies.
“The relationship between the United States and China will shape the 21st century, which makes it as important as any bilateral relationship in the world.” Obama said. “We can deepen this cooperation. We can promote financial stability through greater transparency and regulatory reform. We can pursue trade that is free and fair… And as Americans save more and Chinese are able to spend more, we can put growth on a more sustainable foundation – because just as China has benefited from substantial investment and profitable exports, China can also be an enormous market for American goods.”
The President urged Beijing to join efforts toward a global response to climate change, despite the Asian nation’s rejection earlier this month during a G8 Summit to of a deal to reduce greenhouse emissions by half by 2050, with developed nations agreeing to an 80 percent reduction.
“The United States and China are the two largest consumers of energy in the world,” he said.” We are also the two largest emitters of greenhouse gases in the world. Let’s be frank: neither of us profits from a growing dependence on foreign oil, nor can we spare our people from the ravages of climate change unless we cooperate.”
World leaders have been in talks led by the U.N. about a new framework to replace the Kyoto protocol, which expires in 2012. The United Nations is set to hold a two-day conference on Dec. 11 in Copenhagen for the next round of discussions.
Clinton in her address at the plenary session called the dialogue the culmination of previous efforts by Chinese and American predecessors, as well as an “unprecedented” beginning to start a “comprehensive relationship between the two countries.
Nevertheless, she made clear, “Results won’t happen overnight. We will not always see eye-to-eye, as is the case with human rights, where the United States will continue to be guided by the ideal that the rights of all people must be respected. Still, solutions to many of today’s global challenges are within reach if we work cooperatively where our interests intersect, and are honest with each other when they don’t.”
For his part, Geithner praised Beijing for taking steps away from an export-oriented economy.
“China’s success in shifting the structure of the economy towards domestic-led growth, including a greater role for spending by China’s citizens, will be a huge contribution to more rapid, balanced, and sustained global growth. These efforts are also closely linked to our shared environmental goals. A shift toward domestic demand-led growth in China will be one of the most powerful and effective means for moving China’s economy onto a less carbon intensive and more energy efficient path.”
Clinton, Geithner and their counterparts State Councilor Dai Bingguo and Vice Premier Wang Qishan give their closing statements late afternoon on Tuesday after the four officials meet Obama and Vice Presidnt Joe Biden at the White House.
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