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US, China Conclude Talks on Currency, Rights, Trade

US Treasury Secretary Timothy Geithner (r) and Chinese Vice Premier Wang Qishan,  attend a meeting with US and Chinese CEO's at the Blair House in Washington, Tuesday, May 10, 2011.
US Treasury Secretary Timothy Geithner (r) and Chinese Vice Premier Wang Qishan, attend a meeting with US and Chinese CEO's at the Blair House in Washington, Tuesday, May 10, 2011.

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William Ide

The United States and China say two days of high-level talks in Washington on a broad range of topics helped to boost understanding between the two countries and deepen cooperation. The talks also gave the two sides an opportunity to air their differences over difficult issues.

Secretary of State Hillary Clinton says the U.S. and China are tackling more issues together than ever and that both countries want to realize the full promise of their partnership. "There was a dizzying array of issues that we are working on together and I felt very satisfied because that was not the case two years ago," she said.

That includes the value of China's currency, and human rights in China. Human rights has long been a contentious issue between the U.S. and China.

" Whether it was something that was sensitive to us or sensitive to them. All the difficult issues including human rights. And we both have made our concerns very clear to the other," said Clinton.

Also on the table - high-tech goods and market access in both countries. Chinese officials say the U.S. agreed to be fair with policies that limit the export of high-tech goods to China, and Beijing promised to move toward a more open market.

China State Councilor Dai Bingguo said, "I said that we had a good conversation, but that does not mean that we agreed on each and every issue. However, after each round of dialogues we successfully expanded our mutual understanding and increased our mutual trust and enchanced our cooperation."

U.S. Treasury Secretary Timothy Geithner says the U.S. welcomes Chinese investment in the United States. "I am very confident that if you look over the next several years that you are going to see Chinese investment expand very, very rapidly. That will be good for the United States, good for China," he said.

Access to China's market and intellectual property protection are growing concerns for American and other foreign companies in China.

Chinese officials agreed to take steps to stamp out pirated software use, especially by government agencies.

"This will help protect U.S. innovators as well as Chinese innovators in all industries, not just software," said Geithner.

And, he says, benefit the economies of both China and the United States.

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