Economy

US-China Strategic and Economic Dialogue creates new opportunities

(Xinhua)
Updated: 2011-05-11 16:59

WASHINGTON-- China and the United States wrapped up the third round of the China-US Strategic and Economic Dialogue (S&ED) here on Tuesday, which is bound to usher in new opportunities for greater cooperation between the world's two largest economies.

China and the United States have so far launched three rounds of strategic and economic talks between July 2009 and May 2011 to exchange views on issues of strategic, long-term and overall significance in their bilateral relations.

In recent years, the economies of China and the United States have been moving towards recovery and growth after experiencing a major crisis.

Though their economic conditions have been changing and evolving continuously, cooperation has always been the focus of the two sides' economic and strategic dialogues.

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The third round of talks was seen as a great success, carried out to implement agreements and consensuses reached between the two heads of state during Chinese President Hu Jintao's visit to the United States in January.

A key achievement of the economic dialogue is that the two countries signed the US-China Comprehensive Framework for Promoting Strong, Sustainable and Balanced Growth and Economic Cooperation.

The framework was hailed by many officials as a milestone for China-US economic ties as it will serve as a guideline for their future trade and economic cooperation.

It also made clear that the two countries will have broader, closer and more extensive economic cooperation on the basis of mutual respect and mutual benefit.

Another key factor in the success of this round of talks is that the two sides were candid with each other in dealing with their differences and disputes.

As Chinese Vice-Premier Wang Qishan said, "China and the United States have far more shared interests and cooperation than differences and competition."

During the dialogue, the two sides focused not only on bilateral issues, but also on global ones. The combined economic aggregate of the two countries has accounted for one third of the world's total, while trade value between them has amounted to one fifth of the global total. The ties between China and the United States surpass the boundaries of  bilateral relations and are increasingly affecting the whole world.

Both sides noted that they will pay more attention to their dialogue and let it foster the sound development of China-US relations as well as a robust, sustainable and balanced growth of the world economy and tackle global issues and challenges together.

Besides dialogues, both China and the United States said they will further deepen their existing interactions and embark on comprehensive cooperation, in particular, through high-level exchanges and the Strategic and Economic Dialogue mechanism.

Currently, the prospect for the global economic recovery remains uncertain due to various factors, and the world situation is undergoing a complex and profound change. Both countries are facing common challenges and opportunities in their cooperation.

The United States and China are building more understanding and trust through the dialogue while trying to further deepen their bilateral ties in a range of different sectors, US Secretary of State Hillary Clinton said when the dialogue opened.

In fact, as long as the two sides can clearly identify the main trend of the world in the 21st century as well as the main trend of their ties, firmly follow the directions formulated by the leaders of the two countries, and remove obstacles, they will surely create a new path for the development of relations between big countries.

The development of China, which is committed to peace, development and cooperation, will bring a rare opportunity to the United States and the whole world.

The success of this round of dialogue proved that intensified dialogue, deepened understanding, more consensus and stronger cooperation between China and the United States will benefit the peoples of the two countries and their offspring.

Better, more stable and predictable China-US ties will also lay the foundation for the stability and prosperity of the world.