Experts call for Sino-US trade deal
<p><span word="Download">Download</span></p><p><span word="Within">Within</span> <span word="days">days</span> <span word="after">after</span> <span word="the">the</span> <span word="summit">summit</span> <span word="between">between</span> <span word="President">President</span> <span word="Xi">Xi</span> <span word="Jinping">Jinping</span> <span word="and">and</span> <span word="US">US</span> <span word="President">President</span> <span word="Barack">Barack</span> <span word="Obama">Obama</span>, <span word="experts">experts</span> <span word="were">were</span> <span word="trying">trying</span> <span word="to">to</span> <span word="figure">figure</span> <span word="a">a</span> <span word="way">way</span> <span word="to">to</span> <span word="instill">instill</span> <span word="greater">greater</span> <span word="cooperation">cooperation</span> <span word="and">and</span> <span word="power">power</span>-<span word="sharing">sharing</span> <span word="between">between</span> <span word="the">the</span> <span word="two">two</span> <span word="countries">countries</span>.</p><p><span word="Arvind">Arvind</span> <span word="Subramanian">Subramanian</span>, <span word="a">a</span> <span word="senior">senior</span> <span word="fellow">fellow</span> <span word="at">at</span> <span word="the">the</span> <span word="Peterson">Peterson</span> <span word="Institute">Institute</span> <span word="for">for</span> <span word="International">International</span> <span word="Economics">Economics</span> <span word="in">in</span> <span word="Washington">Washington</span>, <span word="said">said</span> <span word="he">he</span> <span word="is">is</span> <span word="worried">worried</span> <span word="that">that</span> <span word="despite">despite</span> <span word="their">their</span> <span word="economic">economic</span> <span word="cooperation">cooperation</span>, <span word="economic">economic</span> <span word="skirmishes">skirmishes</span> <span word="between">between</span> <span word="the">the</span> <span word="rising">rising</span> <span word="power">power</span> <span word="and">and</span> <span word="existing">existing</span> <span word="power">power</span> <span word="could">could</span> <span word="undermine">undermine</span> <span word="global">global</span> <span word="financial">financial</span> <span word="institutions">institutions</span>.</p><p><span word="The">The</span> <span word="best">best</span> <span word="way">way</span> <span word="to">to</span> <span word="preserve">preserve</span> <span word="the">the</span> <span word="current">current</span> <span word="global">global</span> <span word="system">system</span> <span word="is">is</span> <span word="for">for</span> <span word="the">the</span> <span word="two">two</span> <span word="countries">countries</span> <span word="to">to</span> <span word="strike">strike</span> <span word="a">a</span> <span word="great">great</span> <span word="bargain">bargain</span>, <span word="he">he</span> <span word="said">said</span>.</p><p>"<span word="Essentially">Essentially</span>, <span word="this">this</span> <span word="means">means</span> <span word="the">the</span> <span word="US">US</span> <span word="giving">giving</span> <span word="up">up</span> <span word="power">power</span> <span word="in">in</span> <span word="existing">existing</span> <span word="multilateral">multilateral</span> <span word="structures">structures</span> <span word="and">and</span> <span word="multilateral">multilateral</span> <span word="institutions">institutions</span>. <span word="I">I</span> <span word="think">think</span>, <span word="in">in</span> <span word="return">return</span>, <span word="China">China</span>'<span word="s">s</span> <span word="stake">stake</span> <span word="and">and</span> <span word="incentive">incentive</span> <span word="in">in</span> <span word="preserving">preserving</span> <span word="this">this</span> <span word="open">open</span> <span word="system">system</span> <span word="will">will</span> <span word="be">be</span> <span word="reinforced">reinforced</span>," <span word="Subramanian">Subramanian</span> <span word="said">said</span> <span word="on">on</span> <span word="Tuesday">Tuesday</span> <span word="at">at</span> <span word="a">a</span> <span word="seminar">seminar</span> <span word="at">at</span> <span word="the">the</span> <span word="Washington">Washington</span>-<span word="based">based</span> <span word="Peterson">Peterson</span> <span word="Institute">Institute</span> <span word="for">for</span> <span word="International">International</span> <span word="Economics">Economics</span>.</p><p><span word="Subramanian">Subramanian</span> <span word="said">said</span> <span word="the">the</span> <span word="US">US</span> <span word="and">and</span> <span word="Europe">Europe</span> <span word="often">often</span> <span word="talk">talk</span> <span word="about">about</span> <span word="what">what</span> <span word="China">China</span> <span word="should">should</span> <span word="do">do</span>, <span word="but">but</span> <span word="overlook">overlook</span> <span word="what">what</span> <span word="they">they</span> <span word="should">should</span> <span word="do">do</span> <span word="themselves">themselves</span>.</p><p><span word="Washington">Washington</span> <span word="should">should</span> <span word="work">work</span> <span word="to">to</span> <span word="increase">increase</span> <span word="China">China</span>'<span word="s">s</span> <span word="power">power</span> <span word="and">and</span> <span word="influence">influence</span> <span word="in">in</span> <span word="financial">financial</span> <span word="institutions">institutions</span> <span word="such">such</span> <span word="as">as</span> <span word="the">the</span> <span word="IMF">IMF</span> <span word="and">and</span> <span word="the">the</span> <span word="World">World</span> <span word="Bank">Bank</span>, <span word="putting">putting</span> <span word="Beijing">Beijing</span> <span word="on">on</span> <span word="a">a</span> <span word="par">par</span> <span word="with">with</span> <span word="the">the</span> <span word="US">US</span> <span word="and">and</span> <span word="Europe">Europe</span>, <span word="the">the</span> <span word="former">former</span> <span word="IMF">IMF</span> <span word="economist">economist</span> <span word="said">said</span>.</p><p><span word="He">He</span> <span word="said">said</span> <span word="that">that</span> <span word="Europe">Europe</span>, <span word="which">which</span> <span word="is">is</span> <span word="now">now</span> <span word="a">a</span> <span word="debtor">debtor</span>, <span word="has">has</span> 30 <span word="percent">percent</span> <span word="of">of</span> <span word="the">the</span> <span word="voting">voting</span> <span word="rights">rights</span> <span word="and">and</span> <span word="veto">veto</span> <span word="power">power</span> <span word="at">at</span> <span word="the">the</span> <span word="IMF">IMF</span>, <span word="and">and</span> <span word="that">that</span>'<span word="s">s</span> <span word="too">too</span> <span word="large">large</span> <span word="a">a</span> <span word="stake">stake</span>. "<span word="If">If</span> <span word="everyone">everyone</span> <span word="has">has</span> <span word="veto">veto</span> <span word="power">power</span>, <span word="so">so</span> <span word="should">should</span> <span word="China">China</span>," <span word="Subramanian">Subramanian</span> <span word="said">said</span>.</p>
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