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China and US can address global challenges together

Editor: Qian Ding 丨CCTV.com

03-30-2017 15:27 BJT

By Philippe Metoudi, CEO of Duotem Capital Limited, based in Hong Kong

The Sino-US relationship is, without question, one of the most important bilateral relations in our world, while President Xi Jinping and President Donald Trump have promised to help it progress on the right track.

It has become one of the most inter-linked global ties, especially as China has gradually become the key financial backer of US federal debt. The accumulation of billions of dollars of reserves and trade volumes between the two countries have cemented the importance of the relationship.

The complex connections between China and the US have comprised a mixture of economic and financial interdependence for years that is combined with a strategic rivalry.

The political leadership of Beijing and Washington share much more in common than one might think. Both hold ambitious plans for their countries, they are among the most pragmatic leaders in the world, and have a strong and invested interest in international stability.

They also share a common objective -- to enhance a long and solid alliance. Neither president would want to be remembered for damaging what has been one of the world's most important bilateral relationships.

America opened its doors to China by granting scholarships to Chinese youth to study at US universities, which dated back to the end of the Qing Dynasty.

The bonds between the US and China were strengthened in 1970 when then-President Richard Nixon traveled to Beijing. The period between 1949 and 1970 will be remembered as merely a small parenthesis in the history of relations between both countries.

Since the establishment of diplomatic relations 36 years ago, Sino-US relations have advanced rapidly and reached all-time highs.

Although the Chinese economy continues to evolve from an export-oriented focus to a domestic one, the US will remain the consumer of last resort. China is unlikely to be surpassed as the world's largest and most important manufacturing engine.

In  2008, during the financial crisis, China imposed itself as a true financial backer of the US, further strengthening the already close-knit relationship into a wide strategic alliance. Both parties believe close communications and exchanges at all levels remain critical to enhance the relationship.

The two countries hope to create win-win conditions by broadening and deepening pragmatic cooperation in diverse fields, including the economy, trade, energy, counterterrorism, law enforcement, infrastructure, as well as the environment. The two sides can also strengthen cooperation in areas such as health & lifestyle concerns.

There is little doubt Beijing and Washington will also work to promote cultural and educational exchanges. This will work as long as both countries respect the differences in their respective histories, cultures, traditions and social systems, along with their divergent paths and stages of development, and learn from each other.

Dialogue and cooperation in Asia-Pacific affairs is so crucial, and the two sides should respond jointly to regional and global challenges, enrich strategic connotations of their relations, and demonstrate common positions to the international community.

Beijing wants to work with Washington to adhere to the principles of non-conflict, non-confrontation, mutual respect and mutually beneficial cooperation.

The position was endorsed by the US, and both will continue to expand cooperation at the bilateral, regional and global levels, and to manage disputes and sensitive issues in constructive ways, ensuring that bilateral ties remain on the right track.

Like the relationship between two brothers, bilateral ties among the two economic giants will have its ups and downs, but both great nations recognize the necessity for a strong and robust relationship to ensure that global stability will be here to stay for a long time to come.

Philippe Metoudi, CEO of Duotem Capital Limited, based in Hong Kong

(The opinions expressed here do not necessarily reflect the opinions of Panview or CCTV.com)

Panview offers a new window of understanding the world as well as China through the views, opinions, and analysis of experts. We also welcome outside submissions, so feel free to send in your own editorials to "globalopinion@vip.cntv.cn" for consideration. 

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