Source: CCTV.com
04-02-2009 13:43
Special Report: G20 Summit in LondonThose talks in London were the first for Barack Obama and Hu Jintao. Let's now briefly review China-US economic ties.
The meeting comes against the backdrop of the economic crisis. But they also provide a chance to set a new direction for China-US ties.
The US is China's biggest customer for exports and China is the largest holder of US treasury bonds.
Two-way trade volume has surged from nearly two-and-a-half billion US dollars in 1979 to more than 300 billion in 2007.
Their economic interdependence requires cooperation.
Professor Xiao Lian, Chinese Academy of Social Sciences, says, "the potential for economic cooperation between the two countries is huge, especially after the G20 summit. China once needed the American market, and its cooperation, more than America needed China. But today, the US needs China's cooperation as much as China needs the US'."
In 2009, China and the US are marking the 30th anniversary of bilateral ties.
Over the years, US policy towards China has been evolving from containment to engagement.
Analysts say that although difficulties and challenges lie ahead, the overall outlook for the relationship is positive.
And the financial crisis is making it necessary to expand cooperation, and create new fields and channels to push it forward.
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Editor:Qin Yongjing
