China and the United States of America agreed on Thursday to restart the halted investment negotiation treaty. The talks came with Beijing dropping its prior efforts of protection specific economic sectors from the beginning.
During the yearly Strategic and Economic Dialogue discussions held in Washington, the US business community welcomed the negotiations as a major advancement on investment. The annual meeting resulted to few agreements with great substance.
China called the negotiations a new model of major country relations. The two countries stroke a friendly, businesslike tone as they were reinstalling the treaty. However, a sour note struck the talks when former spy agency contractor Edward Snowden fled and hid in Hong Kong last month after he revealed a US surveillance program prior to leaving for Russia.
US Secretary Jack Lew announced in a statement that the intention of China to negotiate high standard bilateral investment treaty with the US would include all stages of investment. It would also include all sectors which are seen as significant breakthrough. The investment treaty is also a first for China to do so with another nation.
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