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U.S., China Agree to Broaden Strategic Dialogue, Clinton Says

Other News Materials 22 February 2009 08:39 (UTC +04:00)

U.S. Secretary of State Hillary Clinton and Chinese Foreign Minister Yang Jiechi agreed to conduct "high-level" talks on economic and strategic issues and pledged to work together to combat the worldwide depression, Bloomberg reported.

"World events have given us a full and formidable agenda," Clinton said yesterday at a Beijing press conference with Yang following a 90-minute meeting. "It is essential that the United States and China have a positive cooperative relationship."

Today she wraps up her weeklong trip to Asia, her first as Obama's top diplomat, having already stopped in Japan, Indonesia and South Korea. She will attend services at a state-sanctioned church, and meet with community organizers before flying home.

China and the U.S. will continue the economic dialogue begun during the Bush administration, while expanding it to include security and political issues. Clinton and Treasury Secretary Timothy Geithner will be involved in the talks, she said. Previously, Bush Treasury chief Henry Paulson led the U.S. side without State Department participation.

Yang, who said the two ministers discussed a "broad structure" for the talks, will visit the U.S. on March 9 to prepare for their resumption and to arrange President Barack Obama's April meeting in London with Chinese President Hu Jintao. The two leaders will conclude a formal agreement then.

Clinton thanked China for its continued purchases of U.S. Treasury notes, demand for which is needed to pay for Obama's $787 billion stimulus plan. Yang said China, the world's largest holder of Treasuries, will invest its almost $2 trillion in foreign-currency reserves based on the principles of ensuring liquidity and protecting value.

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