U.S.-China Trade Talks (II)

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Sep 1

September 1, 2006

Know More: U.S.-China Trade 2.0, U.S.-China Trade

The Top U.S. Trade official threatened to take China to the WTO if it backtracked on its promises to open up the key industries.

Susan Schwab, the U.S. Trade Representative who was in Beijing for two days of talks, said that Washington has been especially anxious to see progress on opening up China’s financial sector.

According to China’s commitment to WTO, the country is going to open the financial and banking industries by the end of this year.

Without question, China will carry out its promise to WTO; however, it is also important to maintain the security of China’s financial system.

This is truly a tricky task for China’s policy-makers.

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