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China and US should negotiate BIT after Joe Biden takes office: analysts

2020-11-22 08:52:56       source:Global Times

November 21, 2020

China and the US should work together to negotiate a Bilateral Investment Treaty (BIT) after president-elect Joe Biden takes office, said economists and analysts, amid China's ongoing push for greater opening-up and post-virus global economic recovery which needs closer cooperation among major powers.

The comments were made on Saturday during a panel discussion at the 2020 International Conference of Understanding China, which is being held in Guangzhou, capital of South China's Guangdong Province, from Friday to Sunday.

"Both nations clearly recognize with benefits of an enforceable rule-based framework. A BIT would provide greater market access. It would also reduce the ownership caps on foreign direct investment in both countries," Stephen Roach, senior fellow at Yale University, said during the discussion.

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