Chinese Vice Premier Wang Qishan and the US Treasury Secretary Henry Paulson co-chaired this mornings opening of the 5th Strategic Economic Dialogue in Beijing. morning as special representatives of President Hu Jintao and President George W. Bush.
Initiated by the two presidents in 2006, the twice-yearly SED is the highest-level of dialogue between the two nations. It is rumoured that China is looking for the U.S. to relax some of its restrictions on Chinese investment to enable China to put together some finance investment packages which are really much needed domestically in the USA. Congress has in the past blocked Chinese moves to take substantial holdings in American companies but maybe their mood has changed in the face of the failure of the American finance system.