US Trade commissary, Susan Schwab, will hold talks with Bo Xila, China's Minister of Trade, when she visits China later this month. Sino-US trade will be at the top of the agenda when they meet. Reuters reports Ms. Schwab will discuss the duties of the WTO, intellectual property rights (IPR) and expanding exports of American commodities and services with her Chinese counterpart.
IPR will top her agenda on the trip. She said the auto-parts dispute between China and the US is at the point of becoming a primary lawsuit. However, the US does not want to press charges against China through the WTO.
The resumption of the Doha talks will also be discussed. Ms Schwab says China is an important member of the WTO and stands to be the major beneficiary of the talks. She hopes China will contribute and help coordinate the talks. She said the previous round of talks failed because developing countries that if the market is made more open, China will have an enormous competitive edge.
Ms. Schwab said she will express the US's concerns about China's promise to open its finance industry. Franklin L. Lavin, Deputy Minister of Trade in the US, discussed this matter when he last visited China. Early this year, in his first public speech in office, the new Minister of Finance in the US called on China to further open its capital market. The US wants to accelerate the overseas expansion of its finance industry.
Unlike her predecessor, Schwab is not trying to resolve Sino-US trade disputes through the WTO; she prefers direct negotiation. She believes Sino-US ties have developed quickly, and that the dispute is unavoidable. It is important that the relationship between China and the US develops well and that they maintain close trade ties.
Schwab will also visit Singapore during her trip to China. She will then attend the 38th meeting of Economic Ministers of the Association of Southeast Asian Nations (ASEAN).
By People's Daily Online