China, US 'like 2 sides of one coin'

By Zhang Ran (China Daily)
Updated: 2009-07-20 07:45

The value of US dollar

"And for China, the government is deeply concerned about its US bond holdings and wants the United States to assume its responsibility for protecting the value of the dollar," Zhao said.

Zhang Lijuan, a professor at Shandong University, agreed with Zhao.

"This is becoming a more sensitive issue and deserves a clear commitment from the United States," Zhang wrote in a recently published article.

Zhang said reform of the International Monetary Fund (IMF) likely will be discussed, as will other questions on restructuring the world financial system.

Trade will be a major topic, too, Zhang said.

"However, it is more likely that trade-related issues will be discussed in greater detail through the high-level Joint Commission on Commerce and Trade (JCCT) later this fall," Zhang said.

"Free trade is no longer a keynote for the Obama administration. The "Buy American" rhetoric in US stimulus bills and "free but fair" trade policy initiatives can be interpreted as a new type of trade protectionism," Zhang said.

Another area of concern, as US Secretary of State Clinton pointed out during her visit to China in February 2009, is climate change.

The S&ED is expected to explore ways to build a stronger clean energy partnership between the two nations.

Zhang said bilateral talks on world politics likely will take place, too.

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