As China and the U.S. conclude their second round of Strategic and Economic Dialogue, bilateral ties are back on track. After months of tensions between the two, China and the US are seeking ways of building positive and cooperative relations under long term strategies.
The China-US Strategic and Economic Dialogue has come at a time of strained relations between the two sides.
Last December, the US and some western countries blamed China for the Copenhagen Conference failing to reach a tougher consensus on climate change.
Trade and economics are also causing disputes.
From punitive tariffs on Chinese tires and steel pipes, to an anti-dumping probe into American auto part exports, a tit-for-tat dispute is being waged across the Pacific.
On the issue of RMB exchange rate, China is resisting US pressure to appreciate its currency.
Obama's meeting with the Dalai Lama and US arms sales to Taiwan received a strong backlash from China.
Professor Yuan Peng of Inst. of Contemporary Int'l Relations, said, "One of the key reasons for the tensions in the past year is that China and the US haven't got used to the new situation between the two. China is growing confident yet the US is losing ground to some extent. The old mechanism between the two needs to be adjusted."
Despite the global financial crisis, the Chinese economy grew by 8.7 per cent in 2009.
With the Greek debt crisis hanging over Europe, the world economic recovery remains fragile.
Analysts say China and US relations require a long term plan to deal with many problems.
"Bilateral relations between China and the US involves many global issues. The global financial crisis hasn't gone. The fight against climate change and the regional and global security issues all require cooperation between China and the US. The two sides should face up to the differences between them and develop a long term strategy in dealing with global challenges." Said Yuan Peng.
China and the US have become inter-dependent to a striking extent.
Analysts say although the future of bilateral relations could be complicated, the best way to face challenges is to stand together.
China-US S&ED attracts US media attention
The China-US Strategic and Economic Dialogue is making headlines in the US. The talks made the front page of the Monday edition of all major newspapers and their websites.
An article posted on the Wall Street Journal website says the American public has welcomed the speech by Chinese President Hu Jintao at the opening ceremony. It says the two sides will proactively overcome their differences without harming ties. The US delegation has already made it clear that they will not pressure China on the issue of exchange rate of the yuan.
The website of the New York Times published a report that hails the significance of the dialogue in strengthening the relationship between two of the world's biggest economic powers. But a list of problems is waiting to be solved by Beijing and Washington to achieve a mutually beneficial solution.
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