U.S, China Getting Little Done in Removing Economic Barriers

The United States and China urged each other on Wednesday to remove barriers to foreign investment, saying that business ties were vital to overall relations, although they appeared to achieve little beyond rhetoric at a high profile three-day meeting that was overshadowed by security rivalries. Speaking to leading U.S. and Chinese CEOs on the final day of talks in Washington, Chinese Vice Premier Wang Yang said that while investment cooperation had made significant progress, "there are still problems and obstacles and this requires new ways of thinking, cooperation and policy environment." While the world's two largest economies have $590 billion in two-way trade, efforts to secure a bilateral investment treaty have been stalled for seven years.