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Wu: Dialogue key to resolve trade disputes

By Jiang Wei (China Daily)
Updated: 2007-05-25 07:07

WASHINGTON: As Sino-US trade continues to boom, it is inevitable that
disputes and disagreements crop up.

But China and the United States should handle trade irritants through
dialogue and negotiations, Vice-Premier Wu Yi said yesterday during talks
with US President George W. Bush at the White House.

Bush agreed, saying: "There are areas where there's friction, and we just
got to work through the friction."

U.S. President George W. Bush (C) and U.S. Secretary of Treasury Henry
Paulson (R) welcome Chinese Vice Premier Wu Yi to the Eisenhower
Executive Office Building in the White House complex before a meeting of
the U.S.-China Strategic Economic Dialogue in Washington, May 24,
2007.[Reuters]
He said the just-concluded China-US Strategic Economic Dialogue is
"important" and some progress has been achieved.

"This is an important dialogue. And it's one that I thank the Chinese
government for engaging in."

But he urged China to revalue its currency.

Earlier, Chinese central bank chief Zhou Xiaochuan, who is accompanying
Wu on the US trip, said he believes the pace of reform of the yuan
exchange rate "is good".

"We agree on the general direction of currency reform," Zhou told
reporters on Wednesday in Washington. "There's probably a little bit of
difference on how fast we should go."

Wu also met US House Speaker Nancy Pelosi and senior members of the House
of Representatives on Wednesday.

She said the China-US relationship is one of the most important bilateral
relations in today's world; and it would serve the interests of the two
peoples if China and the US keep enhancing their mutual trust and
cooperation.

"We should take care of the other party's concerns, and bear in mind the
principle of development, equality and mutual benefit," said Wu.

Pelosi and senior House members agreed that US-China relations matter a
great deal to the two countries and the rest of the world, and they
should seek a bright future whatever disputes might arise.

Agencies contributed to the story

(China Daily 05/25/2007 page1)

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