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Opportunity of China-US Strategic and Economic Dialogue

The sixth round of SED was held in Beijing on 9th -10th July. Because of the higher level of the economic cooperation, economic dialogue has the substance, and it is easy to get the achievement. Bilateral Investment Treaty, RMB exchange rate issue, high-tech products import tariff will become the import parts of the dialogue.
    The three questions show that complexity of competition and cooperation relations and negotiations between China and America. As far as the probability of importance and achievement, Bilateral Investment Treaty is the most important question, and RMB Exchange Rate Issue is the second question, High-tech Products Import Tariff stands the third. It is because that BIT was proposed by America in 1986, and nowadays there are over 2000 BITs in the world. The new multilateral economic and trade treaty on base of BIT principle is elaborate in the mainly economy entity in the world through America promote TPP in the direction of Pacific Ocean and Atlantic Ocean. America as the first and second economic entity in the world must reflect this.
    And this response will be decide the trade and service rule in future, and fit the new multilateral economic rule. We can say that whether obtain the agreement on BIT or not will be relate to the major economic benefit between two countries.  While RMB exchange rate issue was already become the important topic in the relationship between China and America in the past years, and as the strategic weapon when happened economic game between them. Although this year RMB exchange rate was devaluation because of the expand fluctuation, since 2005 RMB devalued over 30%, and it may be hard get the achievement if always pressure.
    The question of the high-tech products import tariff to China, its nature is emphasize the products liberalization in Chinese market, while deliberate ignore the result of low trade level of high-tech products. It is not because of high tariff in China, but America sets more limits on high-tech product import on this side. After become the dialog content, it seems that use negotiation skills, and find the reason for that America not relax the import high-tech products to China.
    But dialogue was not works on RMB exchange rate and American high-tech tariff, it does not means that there is no development. In fact, the mainly content is BIT. President Ci Jinping, who was attended the joint opening ceremony of the Sixth Round of China-U.S. Strategic and Economic Dialogue and the Fifth Round of China-U.S. High-Level Consultation on People-to-People Exchange, said that should speed up the negotiate BIT, and give the standard, which is high level, bidirectional balance.
    What is ¡°bidirectional balance¡±? It is means that Trade Investment Facilitation Agreement should be win-win of right and benefit, not single-win. The original intention of BIT is protect the American investment through the negative list of investment market access and national treatment before access. But the standard may be not fit the economic management and market competitiveness level of China nowadays. Since the fifth round dialogue, because we accelerate the speed of reform so promote the BIT with America. But the reform should be done step by step. It is means that the negotiation can not break away from the practical situation of China.
    China will obtain the increment reform space and the interest between China and America will promote further, if we get the achievement from this negotiation. It also helps improve the safe cooperation level. It proves that it has the win opportunity between China and America only by dialogue. 
author:      Published at: 2014-7-11 15:18:01
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