Coming up this week at the S&ED: more chit-chat with China.
This Thursday will mark the start of the fourth round of the US.-China Strategic and Economic Dialogue (S&ED) in Beijing. The talks will include U.S. Treasury Secretary Tim Geithner and Secretary of State Hillary Clinton, along with respective Chinese co-chairs Vice Premier Wang Qishan and State Councilor Dai Bingguo.
Marketwatch's Chris Oliver cautions against expecting too much from the meetings:
China experts don’t expect high-level talks between Washington and Beijing this week to yield major progress on big issues, given a stymied policy backdrop, a fresh diplomatic row, and upcoming changes in Chinese and possibly U.S. leadership.
Some progress, however, could be forthcoming on issues involving further opening China’s market to U.S. companies, with banking and financial services cited by experts as a key sector to watch, analysts said.
One reason for U.S. optimism is recent statements by Chinese Premier Wen Jiabao, in which he urged more competition in the banking sector and labeled China’s top state-owned banks as a monopoly that churns out unhealthy levels of profit among a handful of players.
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