Stable Sino-US relations and greater cooperation will increase mutual trust and broaden prospects for global recovery

High-level visits have played an irreplaceable role in pushing forward Sino-US relations and US Vice-President Joe Biden's successful six-day visit to China has further improved ties between the two countries and is an important step toward realizing regular high-level exchanges between China and the United States.

Biden's visit was notable for a number of reasons. First, the importance of Sino-US relations was confirmed and both countries emphasized that China and the US are committed to building energetic, sustainable and positive bilateral relations.

Second, the importance of cooperation was recognized by both sides. China and the US have a wide range of common interests, as well as differences. But history has indicated that cooperation is the mainstream direction for the development of bilateral relations. During Biden's visit the dialogue was mainly about how to strengthen cooperation and the importance of communication and coordination on a series of regional and global issues.

Third, the importance of core interests, which is pinpointed in the joint statement signed by both countries in November 2009, was reaffirmed. Biden also reiterated that the US understands China's concerns over its core interests.

Four, economic ties were highlighted by both countries. After 30 years of cooperation, profound changes have taken place in the economic and financial relations between China and the US, which make it possible to push bilateral cooperation forward. The Chinese government hopes the US can lift its embargo on its high-tech exports to China and better the investment environment for Chinese enterprises in the US. Biden said the US welcomes more investment form Chinese enterprises.

Five, Biden's visit also boosted confidence in the world economy, which still faces many uncertainties. The US economy is recovering sluggishly amid high unemployment and the government debt crisis, and the sovereign debt crisis of some European countries has made things even worse. Some financial agencies warn that the US and the Europe are on the verge of another recession. The volatility of the global stock market shows investors' lack of confidence in the prospects for the world economy.

Biden's visit was especially important in this regard as both sides showed confidence in their own and each other's economy, emphasizing there is no "hard landing" looming for the Chinese economy and the US economy has the capability to recover given its strong economic base, advanced science and technology and a huge stock of quality talent. Such messages were an important boost to the global economy.

As the world's two largest economies, the consensus will have a positive influence on rebuilding global confidence and promoting the recovery of world economy.

In his meeting with entrepreneurs from China and the US, China's Vice-President Xi Jinping said both sides should consolidate confidence and strengthen cooperation and coordination in economic macro-control policies. China and the US should also upgrade their coordination at bilateral levels, as well as in the frameworks of the G20, APEC and the other international mechanisms, and join hands with different economies in the world to realize economic recovery and the strong, sustainable and balanced growth of the world economy.

Improving mutual trust, especially strategic mutual trust, is what both sides need to concentrate on now. Although bilateral relations have been comparatively stable this year, both countries still need to strengthen mutual trust.

The fundamental question is how the US looks at China's rise. In the US, some people regard China's rise as a threat to US hegemony and many problems stem from this mentality. Vice-President Xi urged the US to look at China objectively and rationally, which was a subtle criticism of the "China threat" theory.

Biden indicated that a stronger, prosperous, successful China, playing a bigger role in world affairs, would be good for the US and the world at large. Hopefully, this view will be more widely accepted in the US.

Of course, a single visit cannot eliminate all doubts and new problems will arise in the future. So both countries should conduct dialogues and exchanges at various levels and in all fields with each other more often. Only when mutual trust is deeply ingrained in both sides, can bilateral relations be deeply rooted in both peoples.

The author is a senior research scholar with the Center for US-China Relations at Tsinghua University.

(China Daily 08/23/2011 page8)