The United States and China are advancing the bilateral economic relationship by establishing new habits of bilateral cooperation through the Strategic Economic Dialogue (SED), said a top U.S. official on Tuesday.
"We have embraced a broad agenda that covers cross-cutting economic and economically consequential issues" through the framework, said Alan Holmer, special envoy for China in a speech delivered to the Center for Strategic and International Studies.
"Our approach engages multiple and diverse government officials in both countries. It breaks down classic bureaucratic stove-pipes that hinder effective communication and impede results," he told the U.S. think tank.
The SED was not just an event that happens at cabinet-level meetings twice a year, "rather, engagement is continuous, with progress announced throughout the year," said Holmer.
He noted time after time, U.S. government agencies have been able to "draft behind" the momentum created by the framework.
Examples include a new air services agreement, collaboration on energy security and the environment, moving toward more efficient capital markets, and addressing concerns about tainted food and product imports.
"By establishing new habits of cooperation, the SED has allowed both the United States and China to begin to write the next chapter of our strategic economic relationship," said Holmer.
Over the past five years, U.S. exports to China have grown from18 billion to 52 billion dollars, while U.S. imports from China have grown from 102 billion to 287 billion dollars, according to U.S. data.
Treasury Secretary Henry Paulson will lead a delegation to China for the third meeting of the SED. The dialogue was launched by President George W. Bush and President Hu Jintao in September 2006.
Source: Xinhua
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