Top officials from China and the United States are meeting in Washington this week –- for the third annual Economic and Strategic Dialogue (E&SD). It’s a two-day session for the two powers to speak face-to-face about issues at the heart of their relationship.

But will anything groundbreaking come out of it? If history is any judge (and China has 5,000 years of it), don’t hold your breath. Beijing is in no hurry to rush reforms. Its fear is that sudden moves, as demanded by some hard-line U.S. critics, would destabilize the status quo it knows. Basically, the fear of the unknown is greater than any current fears it feels now.

On Monday, the dialogue started out candidly but fairly positively. In opening remarks, U.S. Treasury Secretary Timothy Geithner outlined the well-known laundry list of bilateral economic issues - but also praised China for its past achievements.
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