Let me give you an example of what I'm talking about. China recently announced a new system to regulate electronics ventures. China must come to terms with the legal and commercial commitments required of all WTO members. At the same time, the United States will be practical and pragmatic, and where possible, flexible. And our intent is to reinvigorate not only the bilateral talks, but the multilateral talks as well.
China is a great nation and a great power.
But with this status comes obligations and responsibilities. In his discussions on the WTO, the President made clear that the United States stands ready stands ready to negotiate a genuine commercial accession agreement. The ball now is in China's court. This week in Osaka the 18 members of APEC convene for the third annual ministerial and leaders meeting. The President's goal at the time was to invigorate APEC with vision and purpose.