Currency, maritime disputes at stake in U.S.-China talks

Currency, maritime disputes at stake in U.S.-China talks
# 08 July 2014 21:52 (UTC +04:00)

Baku-APA. The United States pressed China to implement structural reforms in its exchange rate and to modify its "aggressive behavior" in disputed waters during a preliminary round of bilateral talks on Tuesday, senior U.S. officials said, APA reports quoting Reuters.

The United States, led by U.S. Secretary of State John Kerry and Treasury Secretary Jack Lew, will also push China this week to resume cooperation on fighting cyber espionage and return to dialogue on internet issues, a senior U.S. official said.

 

 

The two-day annual Strategic and Economic Dialogue kicks off officially on Wednesday.

Lew has said he will push China to speed up economic reforms and do more to let the yuan rise against the dollar. Kerry will raise growing U.S. concerns over escalating tensions and China's "problematic behavior" in the South China Sea, officials said.

 

 

The dialogue will also touch on a bilateral investment treaty, which the U.S. hopes will loosen Beijing's restrictions to allow for a more level playing field for U.S. companies.

Washington has also begun to push for China to move to a market-driven exchange rate, another U.S. official said after initial discussions on Tuesday.

"Continued Chinese exchange rate reform will play a critical role in China's success," the official said.

 

 

As well as China's currency, North Korea's nuclear program and escalating tensions between China and neighbors in the South China Sea and with Japan in the East China Sea will be on the agenda.

 

 

The officials said the U.S. would call on China and other countries to clarify their territorial claims by ensuring they are consistent with international law.

"It is our observation that ambiguity about claims can be destabilizing and can lead to confrontation and even conflict," the official said.

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