Sino-U.S. Consensus: Important Not to Expand the Structural Contradictions

During his visit to America, Hu Jintao obtained economic, technology-related, legal, safety and many other important agreements and understandings with America. The two countries issued a substantial and comprehensive communiqué reflecting a determination for national cooperation, strengthening mutual trust and mutually beneficial relations. It also contained a desire to positively strengthen each other’s mutual interests in terms of economies, foreign relations and security strategy.

Mutual trust, mutual interests and cooperation should become the themes of Sino-U.S. relations. The joint U.S.-China statement mostly described technology and trade cooperation details. It explained that China-U.S. technology and trade cooperation spurred on the biggest effects. The meaning is profound. Both sides stressed a mutual great effort to build mutual respect, mutual benefits and winning economic situations and relations. The previous relations have depended on existing dialogue and communication systems to get past difficulties in May’s Sino-U.S. strategy and economic dialogue. The two sides have also gone a step further in their overall economic cooperation framework. Strengthening macroeconomic policies and driving ahead relations between the two countries means strengthening the world economy. Spurring global trade and investment liberalization means positively solving bilateral trade and investment disputes. It also seeks to oppose trade and investment protectionism. The American side promised to use the Sino-U.S. trade committee to rapidly recognize the Chinese market’s position and think over reforming the import and export controls system. This kind of situation deserves rejoicing and inspires hope. China and the U.S. promised to deepen financial investment in support of G20 efforts to bring into play more economic effects.

During Hu Jintao’s visit to the U.S., the preponderance of China’s foreign reserves played to a strong advantage in negotiations. The U.S. signed a huge purchase and cooperative agreement with Lenovo, China Investment Co, Universal Group, Haier Group and other enterprises. It is reported that China and the U.S. signed orders worth $45 billion, including the purchase of 200 Boeing aircraft, valued at $19 billion. The two sides also agreed to participate in the Sino-U.S. Clean Energy Forum. Research organizations and other enterprises have also signed a number of clean energy cooperation agreements involving energy-efficient buildings, clean coal, electric vehicles and other fields. Before those agreements were signed, Chinese trade and investment promotion missions in Houston signed six trade and investment agreements with the United States.