"Yes, I am confident that it can happen, that the talks are moving forward," Hassett said in an interviw with CNN. "There's a lot of progress to be made but it's a very strong situation right now. And I think the Chinese recognise that they've got a big potential gain for coming up with a deal because as you mentioned their growth has really fallen off the cliff."

(Reporting by Doina Chiacu; Editing by Chizu Nomiyama)