China-U.S.BIT Matters to the Global Economy.docVIP

China-U.S.BIT Matters to the Global Economy 　　Chinese and U.S. representatives expressed optimism for the future of the China-U.S. Bilateral Investment Treaty（BIT） negotiations during a session at this year’s Boao Forum for Asia annual conference. 　　Against the backdrop of a global economy facing risks of derailment and investment and trade rules becoming increasingly fragmented， it is necessary for China and the United States―the two most important economies in the world―to collaborate as much as possible with each other in order to maintain global economic and financial stability， boost world economic growth and create new investment and trade rules. 　　Chen Deming， China’s former Minister of Commerce， said that China-U.S. BIT talks are nearing the final stages of completion， with most of the core issues resolved. The only remaining issue is the negative list， a management model that defines areas restricted for foreign investment. We can therefore expect that the two economies are likely to announce the achievement of a high-level investment treaty at some point in the future. 　　China and the United States started the BIT negotiations in 2008， which are considered one of the most important and complicated economic negotiations following China’s entry to the World Trade Organization （WTO） in 2001. In July 2013， the two sides made a major breakthrough when they began discussing each other’s negative lists. They were still negotiating those terms during the 24th round of BIT talks in January. 　　Over the past eight years of BIT negotiations， both China and the United States have consulted their respective economic partners in rebuilding trade rules. Both countries have had breakthroughs in establishing bilateral or multilateral free trade areas. 　　The United States， for example， has spearheaded the Trans-Pacific Partnership（TPP） with 12 member nations along the Pacific Rim， and signed the trade agreement into place in New Zealand on February 4. In addition，