Reply #9: Hardy perennials block US-China light

[xchrom]

http://www.atimes.com/atimes/China/ME13Ad02.html

SYDNEY - China and the United States have raised the feel-good factor with headway on a raft of issues, including cooperation between what are now the world's two biggest economies, by the end of their third annual talks. They remain stuck on significant concerns, not least America's open sore over the value of China's currency.

Modest progress in market access, investment, protection of intellectual property rights and promises in strengthening consultation in the military field and on regional affairs, and implementation of a comprehensive framework to further cement bilateral cooperation was made at the two-day United States-China Strategic and Economic Dialogue (SED), which concluded


on Tuesday in Washington.

Both parties make "very significant progress" on economic policy, according to US Treasury Secretary Timothy Geithner, citing moves on transparency. Chinese Vice Premier Wang Qishan called the talks a "success", saying both parties agreed to "reject protectionism". He also said the Chinese government was more open to US firms investing in China.

The two hardy perennials - the value of the Chinese currency and its human-rights record - remain stark differences in an otherwise growing relationship, as Washington views China's swelling trade surplus as a symptom of Beijing's continued undervaluation of the yuan. Geithner said he was less positive on progress regarding the yuan, adding that he hoped China sped up its revaluation.