Government and Policy

Wang stresses China, US economic interdependence

(Xinhua)
Updated: 2010-05-24 14:51

BEIJING -  Chinese Vice-Premier Wang Qishan said on Monday economic interdependence between China and the United States reflects the importance of bilateral cooperation.

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"With increasingly close links, our two economies have become inseparable. This has been particularly true since the outbreak of the international financial crisis, and our two countries have acted together to meet the challenge," said Wang at the opening session of the second round of the China-US Strategic and Economic Dialogue (S&ED). The dialogue will conclude Tuesday.

He said China-US economic ties are a cornerstone of the bilateral relationship, adding that the high economic complementarity between the two sides makes for win-win cooperation, not a zero-sum game.

The world economy is at a "critical juncture," but as long as the two countries communicate with candor, enhance mutual trust and look for common ground, China and the US will overcome any future difficulty, Wang said.

He said the dialogue, under the theme "Ensuring the Continuation of a Mutually Beneficial Economic Partnership," will include in-depth discussions on a number of issues including macroeconomic policy, trade and investment, financial markets' stability and the reform of the  architecture of international finance.

Wang said the dialogue's core objective is building a positive, cooperative and comprehensive China-US relationship for the 21st century.

"The dialogue will enable us to further our cooperation, solidify the positive momentum and promote the strong, sustainable and balanced growth of the global economy," he added.

Wang expressed confidence the two nations will broaden their consensus, narrow their differences, and work together for sound and steady growth in China-US relations through the talks.

Wang also hailed the first round of the S&ED convened in Washington DC last July as successful and positive in enhancing cooperation. He said the it facilitated a joint response to the global financial crisis, promoting a worldwide economic recovery and global governance structures' reform.

As the special representatives of Chinese President Hu Jintao, Wang and State Councilor Dai Bingguo co-chair the two-day S&ED with U.S. Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner, special representatives of US President Barack Obama.

About 50 representatives from 40-plus government departments from the two countries also participated in the talks.

Succeeding the China-US Strategic Dialogue and China-US Strategic Economic Dialogue, the S&ED was established on April 1, 2009, by President Hu and President Obama during their first meeting in London on the sidelines of the G20 financial summit.