U.S.-China Strategic and Economic Dialogue: Financial Regulation, Clean Energy (2009)





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Published on Jun 8, 2012


July 27, 2009

The U.S.--China Strategic and Economic Dialogue (S&ED) (simplified Chinese: 中美战略与经济对话; traditional Chinese: 中美戰略與經濟對話; pinyin: Zhōng Měi zhànlüè yǔ jīngjì duìhuà) is a high-level dialogue for the United States and China to discuss a wide range of bilateral, regional and global political, strategic, security, and economic issues between both countries. The establishment of the S&ED was announced on April 1, 2009 by U.S. President Barack Obama and Chinese President Hu Jintao. The upgraded mechanism replaced the former Senior Dialogue and Strategic Economic Dialogue started under the George W. Bush administration. The format is such that high-level representatives of both countries and their delegations will meet annually at capitals alternating between the two countries.

The S&ED has both a "Strategic Track" and an "Economic Track". U.S. Secretary of State Hillary Clinton and Chinese State Councilor Dai Bingguo co-chair the "Strategic Track". U.S. Secretary of the Treasury Timothy Geithner and Chinese Vice Premier Wang Qishan co-chair the "Economic Track".

The meetings for the first round of the dialogue took place July 27--28, 2009 in Washington, D.C.

Vice Premier Wang Qishan held talks with Congressmen Rick Larsen and Mark Kirk, former U.S. Treasury Secretary Henry Paulson and Justin Yifu Lin, chief economist and senior vice president of the World Bank, on July 26, 2009 prior to the S&ED. Secretary of State Hillary Clinton hosted a dinner on July 26, 2009 for Chinese State Councilor Dai Bingguo. In an opinion piece published in The Wall Street Journal, Clinton and Timothy Geithner wrote about the U.S.--China relationship and the new S&ED. They added, "Simply put, few global problems can be solved by the U.S. or China alone. And few can be solved without the U.S. and China together", citing the "strength of the global economy, the health of the global environment, the stability of fragile states and the solution to nonproliferation challenges" as aspects that both countries have to cooperate on.

Hillary Clinton, Wang Qishan, Timothy Geithner, Dai Bingguo and President Obama addressed the opening ceremony of the first S&ED on July 27, 2009. President Hu sent a congratulatory message read out by Wang. Obama said in his speech, "The relationship between the United States and China will shape the 21st century, which makes it as important as any bilateral relationship in the world. That really must underpin our partnership. That is the responsibility that together we bear." The opening ceremony of the first Dialogue was held in the Ronald Reagan Building and International Trade Center.

The agenda included the global economic interest, North Korean nuclear weapons production and proliferation, climate change, and overseas development assistance. Chinese participants met with and were addressed by President Barack Obama and spent some time on Capitol Hill meeting with members. They also met with Vice President Joe Biden. China brought more than 150 senior officials, including 28 minister-level officials and nearly its whole Cabinet, one of the largest and highest-level official Chinese delegations ever to come to the U.S. Chinese central banker Zhou Xiaochuan, Chinese Finance Minister Xie Xuren, the Chinese head of the banking regulatory commission, Liu Mingkang, and the head of securities regulatory commission, Shang Fulin, participated in the dialogue. China's Vice Foreign Minister Wang Guangya also participated.

A legion of prominent personages took part on the U.S. side. For example, for climate change, Secretary of Energy Steven Chu, science adviser John Holdren, Carol Browner, Lisa Jackson from the U.S. Environmental Protection Agency‎ (EPA) and others participated for the U.S. For the Chinese side, Vice-Minister Zhang Guobao of the powerful National Development and Reform Commission (NDRC) spoke on energy issues and NDRC Vice-Minister Xie Zhenhua talked about the substantial steps that China is taking to limit CO2 emissions.


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