Third round of China-US dialogues promote cooperative partnership

14:57, May 09, 2011      

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The third round of the China-U.S. strategic and economic dialogues is currently underway in Washington, D.C. and will last from May 9 to 10. This is an annual high-level dialogue between the world's largest developed country and the world's largest developing country, and the whole world is watching.

Deepening mutual understanding and enhancing mutual trust

The third round of the dialogues is more attractive than the previous two rounds in light of new opportunities for the development of U.S.-China relations. President Hu Jintao made a successful visit to the United States in January 2011 during which the heads of the two states achieved important consensus in constructing a mutually respectful, mutually beneficial and win-win China-U.S. cooperative partnership.

This is the "new orientation" of China-U.S. relations in the new era. The third round of dialogues will closely focus on implementing the important consensus of the heads of the two states, and they will deeply exchange views on issues related to the overall, strategic and long-term development of bilateral relations to deepen understanding, enhance mutual trust and promote cooperation and the steady development of the China-U.S. cooperative partnership.

The dialogues have global significance. Kurt Campbell, assistant secretary of the United States for East Asian and Pacific Affairs, said that the dialogues are among the most important mechanisms of the China-U.S. cooperation, and the United States and China will launch candid discussions on international issues of common concern. Campbell said that the two countries will also discuss issues on effectively dealing with problems such as energy security, development, and food aid.

One of the "innovations" of the current round of dialogues is the participation of high-level military representatives of the two countries. This is a new measure for enhancing mutual understanding and trust to avoid strategic misunderstandings and also embodies the consensus of promoting the healthy, stable and reliable development of China-U.S. military relations that were achieved by the heads of the two states during President Hu's visit to the United States.

The momentum for the development of China-U.S. relations has been sound over the past two years. However, bilateral relations have also experienced some fluctuations because of several disruptive factors. Stapleton Roy, former U.S. Ambassador to China and director of the Kissinger Institute for Chinese-U.S. Studies at the Woodrow Wilson International Center, said in an interview with People's Daily that given China's growing influence around the world, the United States must adjust itself in response to the change. The talks serve as a good platform for the communications on broad topics between China and the United States.

China and the United States reached a series of agreements during Chinese President Hu Jintao's visit to the United States in January 2011, to which Americans from all walks of life have responded well. The third round of the dialogues will focus on the ways to implement these agreements. Both sides should concentrate on overcoming mutual mistrust and continue a mutually beneficial cooperation.

Jack Garrity, executive director of the Center on China-U.S. Relations at the Asia Society, has fully confirmed the positive roles the talks have played. He said that although some issues exist in China-U.S. relations, these issues are not intractable. The first-ever participation of military representatives in the dialogue has made the "strategic dialogue" more worthy of its name.

The annual bilateral high-level dialogue between China and the United States has always been subject to media focus. Garrity believes that this has offered the people in the two countries great opportunities to understand and value China-U.S. relations. Numerous opportunities exist in China-U.S. relations. A growing number of Chinese students study in the United States today and more and more American students study in China or learn the Chinese language at home. More exchanges between both the two states and their people will surely cement China-U.S. relations.

Mutually beneficial cooperation and joint development

One of the key pillars in the China-U.S. partnership is the comprehensive and mutually beneficial economic partnership. The talks simply aim to further explore the potential of China-U.S. economic cooperation.

China-U.S. economic relations are at a new turning point and will provide bilateral economic and trade development with new opportunities. Thanks to long-term convergence, economic bonds between China and the United States are stronger than at any point in history. China and the United States are each other's second-largest trading partners and their bilateral trade value reached 385 billion U.S. dollars in 2010, a 160-fold increase compared to before the point when diplomatic ties were established.

China has been the fastest-growing major export market of the United States for 10 consecutive years. In terms of the investment sector, a new trend for growing mutual direct investments between China and United States has emerged. The United States is the largest source country of foreign direct investments in China and China's outbound direct investments in the United States have been on a rapid rise over the past two years.

As China and the United States are at different stages of economic development and are recovering from the global financial crisis at different paces, they will focus on different economic problems during the dialogues. The United States is faced with slow economic recovery, and its unemployment rate remains high, so it is striving to change the old consumption-driven economic growth pattern and encouraging more U.S. enterprises to invest in China in hopes of boosting its domestic employment growth.

China is also making efforts to accelerate the transformation of its own economic growth pattern after more than 30 years of rapid growth. While further expanding its economic presence in the United States, China hopes that the United States can lift restrictions on high-tech exports to China, recognize China's market economy status and receive more investments from Chinese companies.

Investments create jobs. As the U.S. government is eager to improve its employment situation and to promote sustainable economic growth, Chinese direct investments in the United States have naturally become a hot topic during the dialogues. Various U.S. think tanks, chambers of commerce, officials, and scholars have extended a welcome to investments from China. During the dialogues, senior officials and entrepreneurs from both sides will hold a series of talks on promoting bilateral investments.

Daniel Rosen, an economist at the U.S.-based Rhodium Group, said that Chinese direct investments in the United States have become a hot topic during the third round of the talks, indicating that the United States have realized the importance of Chinese investments. He suggested that greater efforts should be made to facilitate Chinese direct investments in the United States. Roy believes that both sides should consider further opening markets, reducing protectionism and other problems. China should stick to its reform and open door policy and turn its huge foreign exchange reserves into investments. Roy hopes the talks can play an active role in helping to solve the aforementioned problems.

Orville Schell, director of the Center on China-U.S. Relations at the New York-based Asia Society, said that the cooperation between China and the United States plays a critical role in addressing certain global issues. The China-U.S. relationship is complicated, and the problems it faces cannot be solved overnight, so seeking common ground to promote cooperation has become a key feature of the dialogues.

Favorable China-U.S. relations not only serve the interests of the two countries but also satisfy the common needs of the international community. Reporters felt strongly during the interview that representatives from both sides expect the dialogues to promote the friendly cooperative relationship between China and the United States.

By People's Daily reporters Ma Xiaoning, Wen Xian and Wang Tian. Translated by People's Daily Online
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