cabinet level Chinese delegation has arrived in the
US for two days of talks on trade and economic co-operation,
dubbed ''strategic economic dialogue'', amid growing tension
over trade between the two countries.
is the second in a series of talks between China and
the US. China regards the talks as being critical to
its economic growth and the delegation comprises 16
members of the Chinese cabinet to allay growing anxiety
in the US of its mounting trade deficit with China,
which recorded $233 billion in 2006.
lawmakers are particularly concerned about the exchange
rate between the Chinese yuan and the US dollar, with
some US Congressmen asking for the Chinese currency
to be revalued by as much as 40 per cent.
the US has a series of complaints outstanding against
China at the World Trade Organisation (WTO), which will
begin hearings on a case against Chinese imports barriers
on car parts brought before it by the US, the EU and
treasury secretary Henry Paulson, who visited China
with the head of the US Federal Reserve Ben Bernanke
in 2006, is accused of being too soft on China and having
been a former chairman of Goldman Sachs, is now too
concerned about the interests of Wall Street.
has warned that if negotiations failed, China could
become the target of protectionist pressures during
the forthcoming US presidential campaign.
Chinese vice premier Wu Yi, who is heading the delegation
to the US, has warned the US against adopting protectionist
measures as being irresponsible.