SED, Round IV: Washington
When: June 17 and 18
Where: US Naval Academy – Annapolis, MD
Who: Co-Chairs US Treasury Secretary Henry M. Paulson, Jr. and Vice Premier Wang Qishan
Why: To strengthen and deepen the bilateral economic relationship through actions to:
- raise questions
- seek consensus
- implement results
- prevent trade protectionism and conservatism from hampering the trade cooperation
What: An overview of China and the US coming to the table to discuss the following areas:
- Macroeconomic Cooperation and Financial Services. The countries pledge to work together toward sustained growth, stability in price and financial systems, and agreed to continue a collaborative approach to sharing information on issues of mutual interest.
- Investment in people and Product Quality and Food Safety. Agreed the need to open up communication regardingt mitigating economic risks associated with aging populations in both countries, and to use this as a platform for investigating ways to provide better healthcare and retirement services. Bilateral efforts to continue activities determined at SED III for product safety on an ongoing basis.
- Cooperation on Energy and the Environment. Mutual understanding of the importance of cooperating to address challenges. Both countries expressed the desire to strengthen commitments to energy and the environment.
- Trade and Competitiveness. Challenges of trade were discussed, as well as actions that would support each nation's economy within the larger picture of globalization.
- Investment. China and US came to an agreement on a series of actions that will be taken to create a mutually beneficial investment path for and between both.
