Collaboration between US and China is indispensable but more needs to be done to overcome mutual misperceptions

Revolution and transformation in the Middle East and West Africa; the catastrophic earthquake, tsunami and nuclear crisis in Japan; the paralysis of the leadership of the European Union confronting the debt crisis in the eurozone; and the sudden death of Kim Jong-il, were just a few of the tumultuous events that caused global economic and political instability last year.

In contrast, bilateral relations between China and the United States were relatively stable and increasingly positive.