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Experts: China, US join hands to create win-win bond

05-04-2012 07:43 BJT Special Report:4th Round of China-US Strategic and Economic Dialogue |

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This week in Beijing, policymakers from the world’s top two economies are meeting to forge critical strategic and economic ties. During this week's Strategic and Economic Dialogue, experts expect the two sides will make efforts to create a win-win situation - and that discussions on yuan appreciation will be put on the back-burner.

The value of the RMB dominated previous talks between China and the US. But now, it would appear currency is taking a backseat.

Jin Canrong, Vice Dean of the School of International Studies at Renmin University, says that’s because the yuan’s daily trading band has been recently widened to one percent. That implies the currency is near its equilibrium.

Jin said, "After gradual adjustments over the past few years, the renminbi exchange rate is close to market equilibrium. That’s why I don’t think it would be a major issue in this current dialogue."

But trade frictions are likely to be high on the agenda. In recent months, the U.S. has launched a number of anti-dumping and anti-subsidy probes into Chinese exports. The solar panel industry is one of the most impacted.

Chen Zhuo, assistant to chairman of Yingli Solar said, "Our solar projects in the U.S. could face risks of being suspended or delayed. Some investors would be reluctant to inject a large amount of capital to those projects."

The dialogue comes against the backdrop of a still-sluggish and uncertain global recovery, with the world’s biggest and second-biggest economies each facing their own unique challenges.

Jia Xiudong, researcher of China Institute of International Studies said, "The US still has to handle many problems although the economy has seen some improvements. Emerging economies like China are growing fast, but they need to undergo economic restructuring and ease price pressures."

The two economies are highly dependent on each other. Experts say China and the US have to work together and create a mutually-beneficial trade and strategic relationship.

 

Editor:Zhang Rui |Source: CNTV.CN

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