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S&ED, a key dialogue to boost economic ties

Reporter: Wang Tongxuan 丨 CCTV.com

06-06-2016 12:34 BJT

Full coverage: 8th China-U.S. S&ED & 7th CPE

Academics and officials from China and the United States are expecting the S&ED Dialogue to give bilateral economic ties a substantial boost.

Visiting US Treasury Secretary Jack Lew said the United States is waiting for China to present a service tax negative list.

He said, "I think that the remaining months of this administration are really very good time to double down and try, and make progress and get it, if not across the finish line, closer to the finish line, where if the BIT is in a well-developed place, it’s much more likely to go forward."

Director of the Center for China in the World Economy of Tsinghua University echoed this sentiment.

He said China has made quite a long negative list which needs to be downsized.

This round of dialogue could lead to a substantial progresses for China-US bilateral investment treaty talks. But he also expressed his concerns.

"It’s possible that the new U.S. president would have not formed a full-member administration in the same time period next year. So this dialogue will focus on issues in the longer run rather than the short-term ones," said Li Daokui, director of the Center for China in the World Economy of Tsinghua University.

"I hope that certain principles can be made out of this dialogue for the new administration to follow up. The incumbent administration can fix some principles, which will prevent the new administration from derailing from current path."

The dialogue will be held against another subtle backdrop--the pending transition of the US monetary policy.

Li also said, "The policy makers must take into consideration the impact the transition would have on the global economy, including China’s economy, and how China’s affected economy will come back to impact the US economy."

"So we must stress repeatedly that the Federal Reserve must thoroughly consider the transition’s impact on the world’s economy before pushing for it, and the transition should go along only one direction."

Li said as China has become the world’s second largest international investor, both the United States and China need an agreement to remove trade protectionism and give the investors from one another’s side the most preferential terms.

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