The Securities Industry Association (SIA) today praised the announcement of a new “high level” economic dialogue between the United States and China as an important milestone in the U.S.-China economic relationship.
The dialogue will help to address bilateral hurdles such as the need for increased market access for U.S. financial services firms - through the elimination of caps on foreign investment and ownership - and regulatory transparency.
“The formal establishment of the U.S.-China dialogue underscores the critical importance of strengthening the U.S.-China economic relationship. We believe this forum will lead to resolutions that serve the best interests of both nations – providing the Chinese economy with technical expertise and an array of financial products and services while opening new business opportunities for American firms,” said Marc Lackritz, president of SIA. “Secretary Paulson’s strong and vital leadership is the catalyst which has jumpstarted these discussions.”
“More broadly speaking, we hope the U.S. and China will use this high level dialogue as a catalyst to revive the Doha trade talks which are critical to the growth of the international economy,” added David Strongin, Vice President and Director of International Finance of SIA.
