Paulson calls on next U.S. president to strengthen relations with China

Source: Xinhua | 10-22-2008 14:08

NEW YORK, Oct. 21 (Xinhua) -- The next U.S. president should fully recognize China's emergence as a global economic leader, and take U.S.-China relations to the next level through more engagement, U.S. Treasury Secretary Henry Paulson said here Tuesday.

Addressing the annual gala of the National Committee on U.S.-China Relations (NCUSCR) in New York, Paulson advised the next U.S. president to start from the perspective that China will continue to play a key role in the world economy.

"We must recognize that China's growth is an opportunity for U.S. companies and consumers, for our producers, exporters and investors," he said, "A stable, prosperous and peaceful China is in the best interest of the Chinese people, the American people and the rest of the world."

Paulson appreciated that China has been working closely with the U.S. government in response to the current world financial crisis.

"We welcome Chinese Premier Wen's statement that China will play a constructive and cooperative role in global efforts to deal with the current financial market turmoil," said the secretary.

He reiterated that the only path to success with China is through engagement, with the Strategic Economic Dialogue (SED) being an important facility.

Reviewing achievements of the SED talks, which was initiated by Chinese President Hu Jintao and U.S. President George W. Bush in 2006, Paulson said that a strong foundation has been built for this dialogue by focusing on policy areas in which China's reform agenda and U.S. interests intersect.

He hopes that the next U.S. president will expand on the SED to take U.S.-China relations to the next level.

Established in 1966, the NCUSCR is a private, non-partisan and non-profit organization. In 1972, it sponsored the historic visit of China's ping-pong team to the United States.

Editor:Zhang Ning