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Holding high hopes for joint solutions

By Zheng Lifei and Li Xiaokun (China Daily)
Updated: 2008-12-03 07:51

"The world is depending on China's growth," the former CEO of Dow Jones & Company in China said.

"Obama's chief China advisor is an experienced China hand, he understands that," McGregor said, referring to Jeffrey Bader.

While researchers agree the Obama administration will continue the SED framework, they say it is likely the name, contents or focus of the dialogue may be modified.

"We (The American Chamber of Commerce in China) anticipate that the United States and China will continue to hold high-level discussions concerning economic issues of importance to the two economies. It is therefore likely that a dialogue of some sort will continue, although it may be characterized or titled somewhat differently," said James Zimmerman, chairman of the American Chamber of Commerce in China.

"A key element (of the SED) is that it allows for a high-level engagement on issues of importance to both the US and China. Nothing can be achieved without dialogue and the sharing of dialogue and points of view," Zimmerman said.

China will discuss possible changes to the dialogue's name and contents with the Obama administration, Assistant Minister of Finance Zhu said last week during a news briefing.

The 5th SED is also expected to discuss other issues of macroeconomic policy, the international financial crisis, energy, environment, trade and investment.

"We strongly believe that this mechanism (SED) should and will carry on (under the new US administration)," Zhu said.

Fudan University's Shen said the Obama government will also "very likely" elevate the strategic dialogue from the current vice-premier to premier level.

The possible elevation of the dialogue level, Shen said, is of great significance, as it will make the decision-making process swifter, hence raising its efficiency.

"Obama was elected because American people think he is a man of far-sightedness and will make decisions that are in their interests," Shen said.

"I personally know many of Obama's China advisors and I believe they will do it," he said.

The name of the SED may also be changed as every politician is inclined to credit himself with some legacy, Shen said.

Similarly, some say the topics and even dialogue itself should be conducted in an "evolving manner" to stay abreast of the rapidly growing Sino-US ties.

"Given that the relationship between the US and China is constantly growing and evolving, the dialogue and its topics should be managed in a manner that addresses the key challenges and issues affecting the US-China relationship including, but not limited to, environmental and energy cooperation, market access, transparency, and economic recovery and growth," Zimmerman said.

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