The United States and China pledged closer cooperation on financial regulation and energy today but made no breakthroughs on currency exchange rates in a high-level dialogue overshadowed by Korean tensions, AP reported. China agreed to modify a policy on promoting domestic technology development that Washington and others complain might hamper trade. U.S. officials said they still have concerns and the two sides will hold more talks in coming months. «This round of the dialogue did not solve all our problems but did produce concrete results,» U.S. Secretary of State Hillary Rodham Clinton said after the second annual meeting of the Strategic and Economic Dialogue. Both sides praised the dialogue as a vital tool for easing trade strains and promoting economic and political ties. But the talks also highlighted the divisions between them and Beijing's growing assertiveness in promoting its own interests. The meeting produced no progress on China's currency controls, a key irritant in relations with Washington. Chinese President Hu Jintao promised currency reforms Monday but gave no time frame and said Beijing would set the pace of change. -- SPA
