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U.S., China must continue to build mutually beneficial economic ties: U.S. official

(Xinhua)

14:27, April 21, 2012

LOS ANGELES, April 20 (Xinhua) -- U.S. Secretary of Commerce John Bryson told the 21st Committee of 100 Annual "Common Ground" Conference here Friday that the United States and China must continue to build a mutually-beneficial and a balanced economic relationship.

"It's clear that the world's two largest economies are becoming more intertwined each day," said the U.S. secretary of commerce.

Bryson said in a closing keynote speech that U.S.-China relations have come a long way in the 1970s. He mentioned this year marks the 40th anniversary of then U.S. President Richard Nixon' s historic trip to China.

"At that time, he rightly predicted that a bridge would be built between China and the U.S. But I think that even he would be amazed by just how far we have come."

He said China has lifted hundreds of millions of its people out of poverty. China is now the second-largest economy in the world and America' s second-largest trading partner.

Bryson said over the past three years, U.S. President Barack Obama and Chinese President Hu Jintao have met 10 times.

"Today, it' s clear that China and the U.S. have benefitted greatly from our growing economic relationship," said Bryson.

He said now the two countries must take further steps to unlock their full potential with balanced growth.

Bryson said the two countries now face great challenges but even greater opportunities.

"And the prosperity and well-being of people in China, America, and -- in fact -- around the world will be deeply affected by how well we cooperate and lead together," said Bryson.

However, the U.S. secretary of commerce stressed American manufacturing as a key part of the U.S.-China relationship.

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