Chinese Ambassador to the United States Cui Tiankai has said that China has confidence and capability to overcome the "Middle Income Trap" and "Thucydides Trap."

Cui made the remarks when delivering a keynote speech at the closing ceremony of the first Penn Wharton China summit held at the University of Pennsylvania on April 3. More than 1,300 people, including overseas Chinese students from the US, Britain and Canada, entrepreneurs, investors, scholars and artists from China and the U.S., participated in the summit.

The confidence comes from a clear mind and a forward-thinking, from the Chinese people's hard work, from the solid foundation laid over the past 30 years and the pioneering spirit cultivated in reform and opening process, which represent the greatest wealth for China to realize its modernization, said Cui. 

China's development cannot be divorced from the reality and the future development must be made on the basis of the past. China needs to embrace the world, and it should also base the development on its own situation. China cannot copy the practices of other countries when solving its problems. China will be able to successfully go through the road of socialism with Chinese characteristics and the great rejuvenation of the Chinese dream will be realized, added Cui. 

Overcoming the "Thucydides Trap" is a challenge facing the two countries. The purpose of China's development is to make the people live a better life, to constantly surpass itself, instead of overwhelming others and even challenging the U.S. China takes relations with the U.S. as a priority in its foreign policy.

During the Fourth Nuclear Security Summit, President Xi Jinping met again with President Obama. Both sides reached positive and constructive results. As President Xi pointed out, Sino-US cooperation can benefit the two countries and the world. The two sides should strengthen exchange, focus on cooperation, enhance mutual trust and work together to build new relations between big powers and to better benefit the two peoples and the peoples of the world.