U.S. Kicks Economic Diplomacy With China Up A Notch

From Reuters:

The United States aims to draw China more fully into helping reshape the global economy by broadening bilateral economic talks to include diplomatic issues and so recognize Beijing as a more equal partner in world affairs.

Next week’s talks with China will bring the U.S. State Department in as a partner with the Treasury Department on Washington’s side for the first time since former Treasury Secretary Henry Paulson initiated regular talks in 2005.

By expanding the dialogue in this way, the Obama administration hopes to settle China’s wariness that Washington’s motive was to keep Beijing in its place, rather than to recognize the country’s rising might.

“I see the broadening … as a way to develop a new institution in which China has a direct and key role in framing and directing the debate,” said Michael Pettis, an associate with the Carnegie Endowment for International Peace, who also teaches at Peking University.


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