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And that's why it's important, and i said from the start, we're going to move on a dual track and part of that dual track is making sure that a sanctions regime is in place. last point i'll make about seacoasts. sometimes i hear the argument sanctions aren't going to necessarily work. sanctions aren't a magic wand. what sanctions do accomplish is hopefully to change the calculus of a country like iran so that they see there are more costs and fewer benefits to pursuing a nuclear weapons program. and in that process, what we hope is that if those costs get high enough and the benefits are low e...

Relatively modest when you look at the overall trajectory of u.s.-china relations. there was never a suggestion it was not until the interest of our countries to cooperate and that we have not only important by lateral business to do but also we're two very important countries in multilateral settings dealing with issues like climate change and the world economy. with respect to the currency issue, president hu and i have had a number of frank conversations. as part of the g20 process, we all signed on to the notion that a rebalancing of the world economy would be important for us a sustained ...

Respect to the prospect of sanctions, the fact that we've got russia and china as well as the other p5 plus 1 members having a serious discussion around a sanctions regime, following up on a serious sanctions regime that was passed when north korea flouted its obligations towards the mpt, it's a sign of the degree to which international diplomacy is making it more possible to isolate those countries breaking international obligations. and as i said, i think several weeks ago, my interest is not what -- having a long drawn out process for months. i want to see us move forward boldly and quickly...

Get from iran, what the u.s. can help them with in that regard, thank you, sir. >> here's what i know. the chinese have sent official representatives to negotiations in new york to begin the process of drafting a sanctions resolution. that is part of the p5 plus 1 effort and the u states is moving this process along. we have the participation of the russians as well as the other members of the p5 plus 1 all of whom believe that it is important for us to send a strong signal to iran that their consistent violation of the security council resolutions swells obligations under the mpt has conseque...