China, US 'like 2 sides of one coin'

The current global financial crisis has brought into sharp focus the interdependent nature of the relationship between China and the United States.

Possible key issues of the first high-ranking China-US Strategic and Economic Dialogue

"The financial crisis has shown that China and the United States are just like two sides of one coin," said Yin Zhongli, a senior researcher with the financial research institution China Academy of Social Sciences (CASS).

"The two are inseparable from each other. China cares as much about the US economy as the Americans themselves," Yin said.

The new China-US Strategic and Economic Dialogue (S&ED) is evidence of those strong ties.

The US Departments of Treasury and State last week announced that the first joint meeting of the S&ED will be held July 27 and July 28 in Washington, DC.

Although schedules have not yet been released, the US Department of Treasury stated in a news release that the first meeting will focus on bilateral, regional and global areas of mutual concern.

US Secretary of State Hillary Clinton and US Treasury Secretary Timothy Geithner will join their respective Chinese S&ED co-chairs, State Councilor Dai Bingguo and Vice Premier Wang Qishan, at the first meeting.

S&ED is an updated version of the Strategic Economic Dialogue (SED) established in September 2006.