5th US-China Strategic and Economic Dialogue

On July 10th, the 5th US-China Strategic and Economic Dialogue opened in Washington, D.C.

This year's dialogue is seen as the first opportunity for the new leadership teams of the two superpowers to interact and develop a work program.

An overview of the dialogue. (Source: Getty)

Over the course of two days, leaders from more than 20 ministries and agencies of both countries will discuss and consult on a range of political, security, economic, and financial issues. Strategic discussions will be chaired by Chinese State Councilor Yang Jiechi and US Secretary of State John Kerry, while Chinese Vice Premier Wang Yang and US Treasury Secretary Jack Lew will chair discussions on economic and financial topics.

Speaking at the opening session of the dialogue, US Vice President Joe Biden affirmed that, despite the many disagreements that still exist between the two sides, Washington and Beijing can find mutually beneficial solutions through cooperation, frank dialogue, and credible communication.

For his part, Chinese Vice Premier Wang Yang emphasized that the 5th US-China Strategic and Economic Dialogue is taking place at the beginning of a new era in relations between the world's two leading economies, fulfilling the commitment made by the leaders of the two countries at their summit last month in the US: to move towards a new model of great power relations based on enhanced cooperation.

The agenda for this year's dialogue will focus on issues in bilateral relations such as cybersecurity, monetary policy, and trade cooperation. In addition, officials from both countries will exchange views on pressing regional and global issues such as the situation on the Korean Peninsula, Iran's nuclear program, and recent developments in the Middle East and North Africa.

Launched in 2009, the U.S.-China Strategic and Economic Dialogue is held annually in each country's capital. The dialogue is one of the main channels for building trust, promoting cooperation, and resolving disagreements between the United States and China.

According to (VNA) - DT