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China, US dialogue of global significance
Updated: 2008-12-04 16:23

China's Vice-Premier Wang Qishan (L) speaks during the opening session of the 5th China-US Strategic Economic Dialogue in Beijing, December 4, 2008.[Agencies]  More photos 

Beijing has called on Washington to stabilize its precarious economy and protect its investments in America as the two sides opened strategic economic dialogues, which is overshadowed by the churning crisis of the global economy.

"We hope the US side will take the necessary measures to stabilize the economy and financial markets, as well as to guarantee the safety of China's assets and investments in the United States," Vice Premier Wang Qishan told US Treasury Secretary Henry Paulson and other US officials at the Strategic Economic Dialogue in Beijing.

China is a major owner of US Treasury debt that finances Washington's budget deficit. The US dollar's recent weakness and the financial turmoil there have fueled Chinese anxiety about the safety of such holdings, analysts said. [Full Text]

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