The U.S.-China strategic and economic dialogue in Beijing this week will have a major bearing on thesustainable and healthy development of our economic relationship.
Since the United States and China established diplomatic relations, bilateral trade volume has grown nearly 120-fold. U.S. direct investment in China has topped $63.1 billion, and China's direct investment in America has also grown rapidly, in tandem with indirect investment in Treasury bonds and other American assets. Simply put, the United States imports from China, and China increases investment in the United States. This relationship has supported low inflation and high growth in the United States for many years. At the same time, such economic cooperation has promoted China's reform and opening up; scaled up employment, growth, industrialization and urbanization; and injected vitality into the Chinese economy. Such a close economic relationship indicates that the countries complement and depend on each other.
