Expert on SINO-US JCCT meeting

The latest China-U.S. trade talks have attracted high attention from economists and experts around the world.

Derek Scissors, a research fellow at The Heritage Foundation's Asian Studies Center, says China and the United States deeply rely on each other for economic growth and trade.

He says this interdependence has generated benefits for both.

PKG

Derek Scissors told CNC that the JCCT is not a strategic forum, but a management forum where Washington and Beijing are to discuss smaller issues, roadblocks, technical issues that have come up in therelationship.

SOUNDBITE (ENGLISH) DEREK SCISSORS, The Heritage Foundation:

"This time, it is more important than most JCCT because we have a transition, well known transition in China and a more subtle transition in the United States. As I understand Wang Qishan is coming with the JCCT delegation, even though he is leaving the post of running U.S.-China relations in formal post. I hope that he is introducing his successor. If he is introducing his successor, it will help U.S.-China relations move more quickly forward."

According to him, another element is the new helmsman of China's ruling party--Xi Jinping-- has traveled to South China's Guangdong Province and reminded people of the southern tour 1992. It gets hopes up for economic reform.

SOUNDBITE (ENGLISH) DEREK SCISSORS, The Heritage Foundation:

"It would be useful if the Chinese side could provide some information to the U.S. about those reforms. Those reforms may not bear U.S.-China economic relations."

The expert suggests the Chinese government needs to have control of only a few sectors in the economy and allows more competition with state enterprises.

Economists indicate Wednesday's JCCT meeting offers a good platform for the United States and China.

Both countries are each other's second largest trade partner.

Bilateral trade surged 9.1 percent in the first 10 months of this year, compared with tepid growth in the rest of the world.