The United States will urge China to more quickly restructure its economy, US officials said, as both countries prepare for two days of strategic talks next week to strengthen cooperation on a host of international challenges, dpa reported. Economic relations will play a prominent role during the broad discussions, along with climate change, counterterrorism, North Korea's nuclear programme, non-proliferation and human rights, said US officials, who briefed reporters ahead of the meetings on the condition of anonymity. The United States has been concerned that China has been too slow to adjust its economy by moving more toward the service sector and away from heavy industry and exports, as the global economic downturn has prompted a decrease in consumer consumption. US President Barack Obama has sought to elevate talks with China through the Strategic and Economic Dialogue. The US delegation will be led by Secretary of State Hillary Rodham Clinton and Treasury Secretary Timothy Geithner. They will meet starting Monday with State Councilor Dai Bingguo and Vice Premier Wang Qishan, who will arrive in Washington with concerns of their own. China has been unhappy with the skyrocketing US budget deficit, driven in part because of Obama's massive spending to jump-start the economy. Washington's deficit is expected to reach 1.8 trillion dollars this year. China holds more dollar reserves than any other country and is worried about the safety of those holdings. Its central bank chief has suggested that the world should start moving away from the dollar and create a more global reserve currency. Unlike the United States, China has held up relatively well during the recession. Though growth has slowed, the International Monetary Fund still predicts China's economy will expand by 7.5 per cent this year. -- SPA
