U.S. Treasury Secretary Henry Paulson stressed here Wednesday
the economic interdependence between the United States and China,
and warned against rising protectionist sentiment.
Speaking at the opening ceremony of the Third China-U.S.
Strategic Economic Dialogue (SED), Paulson said, "There is hardly
an issue- from trade, to product safety to climate change - where
American and Chinese economic interests do not overlap."
The U.S.-China relationship has become central to each nation's
interest and to maintaining a stable, secure and prosperous global
system, he said.
Paulson echoed a renewed call against politicizing trade issues
by Chinese Vice Premier Wu Yi, who co-chaired the dialogue.
"Neither China nor the United States can protect our way to
further prosperity. We must resist attempts to reduce transparency
or increase regulatory obstacles in order to protect domestic
industries," Paulson said.
Vice Premier Wu had voiced her concern to Paulson about the 50
protectionist China-related bills introduced in the U.S. Congress,
which she said would "severely undermine U.S. business ties with
China" if they were adopted.
"Taking short-term, politically expedient actions will almost
certainly impede our long-term prosperity and ability to address
long-term strategic issues," Paulson said.
He said the Bush Administration also has consistently opposed
protectionist legislation directed at China. "A U.S. economy, which
is open to foreign investment and trade and welcomes competition,
has always been in our nation's best interest."
Paulson spoke favorably of the SED mechanism, saying the talks
have produced agreements that may not otherwise have been
reached.
"We have built stronger relationships and established new,
constructive channels of communication...I am confident we can
accomplish more," he said.
(Xinhua News Agency December 12, 2007)
