The First Strategic and Economic dialogue between the United States and China was held in Washington D.C on July 27 and 28. In this historical event, that was almost overlooked by the media, breakthroughs where made in strategies on economic cooperation and definitions of a joint posture over North Korea’s nuclear plan.

The Chinese delegation led by Wang Qishan, included over 200 officials, who met with thier peers of the U.S. Secretary of State to coordinate relations between both countries, as well as to plan joint measures. 

One of the drivers of the meeting was to advance on economic cooperation in order to overcome the world economic crisis. The United States called for more Chinese openness to American exports and a widening of China’s inner markets, while China asked for prudence in dollar emission, since its liquidity affects directly to the more than 800 billion of U.S. Treasury securities that the Asian country holds as the largest foreign creditor of the American government.

The United States also asked for a re-valuation of the Chinese currency, the Yuan, still kept low to favor exports. 

A key issue on dialogue was the future of the North Korean nuclear plan. Both countries decided that measures must be taken to re-engage the North in the Six Party Talks, with the purpose of peacefully stopping its nuclear proliferation. China also agreed to implement restrictions which could help pressure the Pyongyang regime.

As experts from the NPSGlobal Foundation have sustained in several articles, a strong and firm action by the Chinese government is vital for the success of the negotiations that will help to stop the danger imposed by a nuclear North Korea. Being this one of the biggest concerns of the western superpowers. In fact, the Asian giant has been so far the Pyongyang’s main ally and support, economical and political, and its role is crucial for the stability of the regime. A controlled North Korea is, also, a priority for China which seeks to avoid an humanitarian disaster that could involve millions of displaced North Koreans pressing on its borders, if the situation in the country would become unstable or chaotic.

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