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I think it is quite important and in particular what it shows is that engagement with China can work. And that’s what we are attempting to do in this S economic dialogue and many other issues that have been discussed. This is one item that was led by the US trade representative ambassador Susan Swar addressing concerns that we have with respect of Chinese subsidies, particularly export subsidies and subsidies we would say that you need to…that Chinese companies would need to import domestic goods as supposed imported goods. But this really does show that when we have a chance to work through the issues and to work on them collaboratively that we can't get a mutually beneficial result. I think that’s the particular significance here.

But you got some very very big issues indeed to deal with. You got the issue of Chinese respect of intellectual property, you got the issue of China’s opening up its market to international financial services, and above all you got the fact that the Chinese send in Euros estimation, keep their currency the RMB yuan artificially low against the dollar. It’s ganna take a long time, isn’t it, to get real progress on those issues?

Well, some of these issues are ones that we are able to make a progress on. That’s the focus what we call our extra-teach economic dialogue to be able to address the long-term strategic issues that we really need to be able to address over the long term. These issues like energy in the environment, issues on issues indicate getting them to appreciate their currency more rapidly. All the issues were expected to having them accelerate the development of their financial sector, issues on investment, issues for example on integrity of trade consumer protection and product safety. So those are all issues…Please go ahead Charles

Yes. Say ambassador I mean those obviously don’t always getting too far down the laundry list. I mean, those are all important issues but the fact is so you don’t have that much leverage—the Chinese sell an enormous number of goods that people in America want to buy ends the deficit on the one hand; on the other hand, you’ve been very worried if the reserves that the Chinese are holding in dollars were suddenly to go over to Euros or some other currencies since they got over leverage, you don’t have much, right?

Well, there are two important pieces of leverage those apply with expected America, they would also apply with expect to Europe that is continue to access to those two markets which is something that the Chinese certainly are very interested in. The other piece of leverage is all of these questions are once where the Chinese do recognize. That is important for them on consumer product safety to protect the Chinese brand. They recognized /that is important for them to move to a more flexible exchange rate and what we are focusing on with them is not so much the direction of the reform but the pace of the reform.

这篇貌似太专业可~~~那老男人的口语听着不爽