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UPDATED: May 14, 2012 NO. 20 MAY 17, 2012
Productive Dialogue
Mutual interests between China and the United States make them more interdependent
By Ding Ying

Trust and respect

Besides economic agreements, the two sides reached consensus on strategic fields, such as strengthening communication and cooperation in enlarged areas. All these efforts are targeted at building a new type of relationship between major countries based on mutual trust and mutual respect. "To build a new type of relationship between China and the United States, we need to trust each other," Chinese President Hu Jintao said at the opening ceremony of the S&ED.

Zhao Kejin pointed out that both the space and significance of their cooperation are tremendous. As the two most influential powers, neither of them can shift responsibility to world peace and development. During this year's dialogue, the two sides also held exchanges on global events.

The good atmosphere of the dialogue framework has spread to the military communication between the two sides. Right after the dialogue, Chinese Defense Minister Liang Guanglie visited the United States and reached several agreements with his U.S. counterpart Leon Panetta on developing bilateral military relations. Jiang Shaoliang, a researcher at the Military Science Academy, said this interaction is of special significance. The military communication will bring the bilateral relationship onto the track of healthy, comprehensive, multi-field and high-level development. He added that Liang's visit helped the two armies enhance common understanding while demolishing misjudgments, which is crucial for both sides.

Experts said that building a new type of relationship between the two powers based on mutual respect is the key to the China-U.S. relationship.

Zhao said there are three factors to the relationship: maintaining the positives trend of dialogue and cooperation, pushing forward the frank dialogue on sensitive events, and deepening their mutual trust on strategic problems.

Achievements of S&ED

Strategic Dialogue:

- Promoting high-level exchanges and communication;

- Maintaining bilateral dialogues and consultations on issues including security, human rights, arms control, non-proliferation, legislation, law enforcement and marine safety. The two sides agreed to hold a human rights dialogue in Washington in the coming summer;

- Enhancing communication and cooperation while coping with regional and global challenges, world events and hotspots;

- Boosting bilateral cooperation.

Economic Dialogue:

- Strengthening macroeconomic cooperation. China promised to continue its currency exchange rate reform. Meanwhile, the U.S. made commitments such as changing economic growth pattern, cutting off its financial deficit by at least $5 trillion within the next 10 years;

- Encouraging open trade and investment; China agreed to increase the amount of money that foreigners can invest in the domestic capital market. The United States undertook to promote exporting hi-tech products for civilian use to China, and be more active when dealing with Chinese enterprises' investment applications;

- Making joint efforts on international rule and global governance;

- Pushing forward stability and reforms of the financial market;

- Reinforcing bilateral economic relations under the framework of the China-U.S. Strategic and Economic Dialogue.

(Source: Xinhua News Agency)

 Email us at: dingying@bjreview.com

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