Sino-US strategic dialogue ends with 7 agreements

Last Updated: Tuesday, May 25, 2010 - 21:01

Beijing: China and the US on Tuesday ended
their two-day Strategic and Economic Dialogue by signing
agreements on climate change and supply of American nuclear
reactors, but failed to achieve any breakthrough on the
controversy over the exchange rate of Yuan.

The two sides also failed to reach consensus on the
issue of imposing sanctions against North Korea for attacking
a South Korean naval ship with Beijing apparently not willing
to come out against its reclusive ally.

While the strategic dialogue was held between
Secretary of State Hillary Clinton and Chinese State
Councillor Dai Bingguo, the Economic dialogue took place
between Treasury Secretary Timothy Geithner and Chinese Vice
Premier Wang Qishan.

The two countries also inked seven agreements on cover
supply chain security and facilitation, and trade finance
activities besides an MOU on the safety of the Westinghouse AP
1000 nuclear reactor, which will be used in Chinese nuclear
power plants.

Another MoU dealt with the implementation of the
Framework for Eco Partnerships -- supporting global action
against climate change.

However, China and the US failed to announce any
concrete understanding on major issues of discord like
revaluing Chinese currency against dollar.

US accuses China of deliberately pegging Yuan`s value
low to reap benefits of out of exports. During talks, China is
understood is to have assured the US that it will increase the
value it at its own pace.

On the implementation of sanctions against North Korea
for attacking a South Korean naval ship too the disagreement
remained with Beijing apparently not willing to come out
against its reclusive ally.

The two sides are also understood to have discussed
their perceptions about South Asia, Indo-Pak issues and
China`s plans to build two 650 mw nuclear reactors in
Pakistan.

Clinton and Geithner led a 200-member official
delegation at the talks, the second such dialogue with China.

For the first time in recent months, military
officials of both the countries also met on the sidelines of
the dialogue.

Ma Xiaotian, deputy chief of the General Staff of the
Chinese People`s Liberation Army today met the US Commander-
in-Chief of Pacific Command Robert Willard and discussed
military cooperation.

At the end of their talks, Clinton, who also tried to
get Chinese support for sanctions against reclusive North
Korea, met President Hu Jintao and Prime Minister Wen Jiabao.

Hu, who yesterday promised to address US demand to
increase the value Chinese currency Yuan against dollar to
boost American exports, said both the teams should seriously
implement the "achievements".

Clinton said she appreciated the "substantial speech"
made by Hu at the opening session of the dialogues.

"The two teams worked hard to realise the vision
between President Obama and you," Clinton told Hu. She said
the two sides had deepened cooperation in the second round of
talks with the largest-ever delegation.

Hu said China would like to work with the United
States to keep the bilateral relationship on the right track.

They also discussed Korean Peninsula, nuclear situation, the
Iran nuclear issue and other regional and international
issues, official media reports here said.

Wen in his meeting with US delegation termed the
dialogue a success when Clinton and Geithner called on him.

"It is better for China and the US to have dialogue
rather than engaging in confrontation," he said adding that
such large-scale dialogue, which involved so many departments
and touched a broad range of topics, was rarely seen in the
world.

Geithner said the dialogues demonstrated "remarkably
effective commitments" to cooperation between the two
countries.

"Because of forceful action between US and China, and
because of our commitment to cooperation, our economies are
much stronger. The world is moving towards greater balance,"
Geithner said.

The United States was willing to join with China in
taking more actions to deal with issues such as the
international financial crisis, climate change, and in
maintaining global and regional peace and stability, Geithner
said.

On the trade front, China is hopeful that US would
lift curbs on high technology exports, specially green
technology to boost its exports to China.

During the dialogue, senior officials from the two
sides also inked a work plan for research into shale gas and
credit agreements for US medical equipment, telecommunication
cables and other equipment exports to China.

During the two-day dialogue, the two countries` health
departments signed an MOU for the Collaborative Program on
Emerging and Re-emerging Infectious Diseases.

PTI



First Published: Tuesday, May 25, 2010 - 21:01

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