No two countries enjoy such complex business and trade ties as China and the United States. Both countries are closely linked and interdependent, but relations are also marked by frictions and disputes. Thirty-five years ago, China-U.S. trade volume was almost nonexistent when a breakthrough was made in our icy bilateral relations. By 2006, we had become the other's second largest trade partner, with both economies inextricably entwined.
Mutual benefit and win-win progress: These are what China-U.S. business and trade relations are all about, and these intrinsic qualities have made our trade ties strong and vibrant. A recent report, "China: The Balance Sheet," jointly published by two major American think tanks -- the Center for Strategic and International Studies and the Institute for International Economics -- noted that China brings incontrovertible economic benefits to the U.S. The rapid growth of the Chinese market boosts U.S. exports; China's exports to the U.S. and its investments in American financial assets help restrain U.S. inflation and interest rates, and thus permit faster economic growth and more job creation.