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Biden says China's reforms would serve both countries

| Wednesday, July 10, 2013, 9:27 p.m.

WASHINGTON — U.S. officials appealed to China's self-interest on Wednesday with calls for deeper economic reforms including changes to the exchange rate policy and a halt to cyber theft of trade secrets — actions they said would benefit both nations.

Vice President Joe Biden initiated the annual U.S.-China Strategic and Economic Dialogue by stressing the shared stakes and responsibility to support the global economy.

“The next steps that China needs to take for its own economy happen to be in the interests of the United States as well,” he said as the two-day talks opened in Washington.

“Your own plans call for the kinds of changes that have to take place, that are difficult, like here, but if they do, they will benefit us both, including free exchange rate, shifting to a consumption-led economy, enforcing intellectual property rights and renewing innovation,” said Biden.

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