The next six weeks is a critical window for U.S., China relations. The administration is clearly sending a signal to the Chinese that we need results.

Checkbook diplomacy does not replace the need for systemic changes.

There are no home runs here. But if you get a lot of singles, you can score some runs.

If the APEC economies can't collectively come up with forward movement on trade and open markets, that would be unfortunate for the global trading system. It's absolutely critical for the leaders of these 21 countries to come out with a very strong statement on trade.

With Vietnam hosting (Asia Pacific Economic Cooperation forum) in November, this is a critical window of opportunity. Vietnam cannot afford to let it slip.

We recognize the value of having Boeing planes sold. We recognize the value of (China?s) buying U.S. products. But we also need the Chinese to understand that more needs to be done.

We know that the global problem is probably $600 billion or more in magnitude, of which China represents 60 percent of the global problem. It's being manufactured in China, counterfeiting and piracy. It's being exported around the world and certainly into the U.S. market, so the U.S. companies are very concerned.

Checkbook diplomacy is not a bad thing, but it can't take the place of systemic changes that are needed to level the playing field for American companies.

There will need to be compromises on both sides. We're not there yet.