What is the S&ED and why is it important?

Global Business

Since 2009, the United States and China have met annually for high-level talks to discuss a broad range of global economic issues. Known as the U.S.-China Strategic and Economic Dialogue, or S&ED, it’s a way for officials from both nations to participate in a comprehensive bilateral forum.

What is the S&ED and why is it important?

Everything you wanted to know abou the U.S.-China Strategic and Economic Dialogue taking place in Washington D.C. July 22-24, 2015.

The idea first came about a decade ago, when then-Chinese President Hu Jintao and President George W. Bush established a process for each country to talk about economic and political issues, in the form of two separate meetings.

After President Barack Obama took office in 2008, both leaders decided to forge an even bigger relationship by merging those two meetings. The two teams have met each of the past six years, rotating between the two capitals, Beijing and Washington.

Officials say it’s critical to advancing a “constructive and comprehensive relationship” between the biggest developing country and the biggest developed country on earth.

Both China and the U.S. hope their dialogue will reduce misunderstanding, and deepen mutual trust and enhance cooperation between the two nations.

The rapid impact of world events has only added to the urgency of strengthening cooperation and communication between China and the United States.

Last year’s forum was held in Beijing. More than 100 agreements were reached on a wide-ranging number of topics. Many focused on bilateral, regional and global issues; But there was also progress in the areas of climate change, energy and the environment.