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Secretary of Treasury Henry Paulson made remarks about the U.S.-China Strategic Economic Dialogue (S.E.D.) at an event hosted by the World Affairs Council in Washington, DC.

“We have learned that engagement works,” said Paulson, “engagement can help achieve meaningful tangible results that would not have been possible otherwise.” Paulson said that the S.E.D. has yielded results from economics and trade to product safety and transportation.

Paulson stressed the importance of the U.S.-China talks in helping to solve the current financials crisis. “It is critical that the United States, China and other major economies continue our vigorous efforts and take whatever further actions are necessary to stabilize the financial system,” said Paulson.

Paulson also discussed China’s increasing energy needs. “China is...the second largest consumer of oil behind the United States. Building cooperation and trust between our countries can help prevent competition over scarce energy resources.”