As I suggested a day ago the outcome of the Strategic Economic Strategy Dialogue is significant. What's behind the deal will come out eventually. China would be looking for some benefits in terms of trade with and investment in the U.S.
From the news wires a few minutes ago
December 5, 2008 - 3:25PM
US Treasury chief Henry Paulson said Friday the United States and China would make 20 billion US dollars available in trade financing to boost commerce amid the global slowdown "To support trade flows during this period of financial turmoil the US and China announced today that our two export-import banks will make available an additional 20 billion US dollars for trade finance, particularly for creditworthy importers in developing economies," Paulson said.China and the United States completed their last high-level economic meeting under the Bush administration with vows to fight protectionism in a time of global financial crisisFreeing up trade to boost weakening global growth was one of the main themes of the two-day Strategic Economic Dialogue, led on the US side by Paulson."Both sides believe that in the face of the growing challenges posed by the... crisis, we must fully oppose all forms of protectionism," Vice Premier Wang Qishan, the head of the Chinese team, told reporters."We stand ready to work actively with other countries in the world to promote the early resumption of the WTO Doha round of negotiations so as to... promote prosperity and growth of the world economy and trade."The last round of Doha trade talks collapsed in July when the United States and India clashed over measures to protect poor farmers against import surges. Paulson told the briefing the United States and China would make 20 billion US dollars available in trade financing to boost commerce amid the global slowdown."