Common interests decisive to Sino-US economic tie

President Hu Jintao indicated, when met <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />US President Obama on 12, China is firmly on the way to promote the reform of yuan’s rate mechanism, but it will achieve the goal with no affections from outside. At the moment of world recovery, China and US should give up disputes in economic relations and seek for common interests in more fields, what would be the better way in reserving differences for common ground. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

China-US trade unbalance characterizes with structural and time features, which attributed to worldwide industry transfer and the issue of multilateral management, pushed by the tendency of global development and the change of economic pattern. From historical perspective, the change of yuan’s rate has had little influence upon Sino-US trade balancing, not mention in hindering of American joblessness. On the contrary, China’s industries would move to other countries instead of US because of the cost variance between the two, aroused by their trade dispute.

In fact China has been striving for adjusting foreign trade and industrial structure as to expand import more than export. US government recently has put forward the policy to promote export, the both sides would certainly achieve win-win goal if the bias put aside and the export restrictions on China being eased. At the crucial moment of world recovery, both China and US particularly need sincere cooperation for fear brining about another round of economic turbulence.