Treasury Secretary Geithner and Secretary of State Hillary Clinton today released the following joint statement on a U.S.-China Strategic and Economic Dialogue:
As President Obama’s Special Representatives for the United States to the U.S.-China Strategic and Economic Dialogue, we are pleased to announce that the first meeting of the U.S.-China Strategic and Economic Dialogue will be held in Washington, D.C. during the last week of July 2009.Hmm, a Premier level dialogue. Translation: China's heavy hitters want out of Treasury securities, now.
The Dialogue will focus on addressing the challenges and opportunities that both countries face on a wide range of bilateral, regional and global areas of immediate and long-term strategic interest. Through the two days of meetings, we look forward to in-depth discussions with our Chinese counterparts to enhance the welfare of the citizens of both countries.
We look forward to working closely with our respective Chinese Co-Chairs, Vice Premier Wang Qishan and State Councilor Dai Bingguo, along with the members of their delegation and our colleagues in President Obama’s Cabinet to promote U.S.-China cooperation.
These talks have been on tap for awhile, and are a continuation of the SED discussions started by Hank Paulson during the Bush presidency. I do not think they are an indication that China wants out of our treasuries, at least not anymore than they previously have announced.
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