The US and China discussed a bilateral investment treaty (BIT) at the Sino-American Strategic and Economic Dialogue (SE&D) in May. If the final negotiated text looks like the majority of US BITs it could threaten financial stability and economic growth in China.

The US and China began negotiations toward a BIT in 2008 under the George W. Bush administration. After taking office, US President Barack Obama gave his seal of approval to the negotiations at the November 2009 SE&D when the two nations agreed to "expedite" them.

China's development over the past 30 years has been unprecedented. Not only has per capita growth been faster than 8 percent a year throughout the period, but according to the World Bank, China has also brought 300 million people - a number roughly the size of the entire population in the US - out of poverty.

China has to be the best "globalizer" among developing nations. It hasn't followed "Washington Consensus" policies of rapidly liberalizing trade and investment and pulling the state out of economic affairs that has been followed in Latin America where growth rates have been minimal.  More from The China Daily here.