The United States and China issued an official statement on Wednesday that two sides would commit to meet twice a year for a high-level strategic economic dialogue.
Henry Paulson, who took over the Treasury in July, had persuaded cabined colleagues and Bush that a broader economic dialogue with China was needed. Bush agreed.
On August 21, President Bush proposed the pact in a telephone call to Chinese President Hu Jintao, and Hu agreed too.
“Given growing economic globalization and increasing bilateral economic relations, a high-level strategic economic dialogue between China and Unites States will promote economic cooperation and growth of China-U.S. relation.” Both countries’ official said.
Things will go back to their fundamentals.
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