Relations between the People's Republic of China and United States have generally been stable with some tensions. While there are many irritants in China US Relations there are also many stabilizing factors. The People's Republic of China and the United States are major trade partners and have common interests in preventing nuclear proliferation.
People's Republic of China main competitor to United States. Analysts Considers
People's Republic of China as an Emerging superpower and United States remain a sole superpower now. China US relationship has been described as the world's most important bilateral relationship of the 21st century.
Within China, there is a love hate relationship with the United States.
Within United States there is a view the People's Republic of China as main competitor to United States global dominance.
People's Republic of China and United States has been working closely on regional issues, such as those pertaining to North Korea and its nuclear weapons program. The People's Republic of China has stressed its opposition to the North Korea's decision to withdraw from the Nuclear Non-Proliferation Treaty, its concerns over North Korea's nuclear capabilities, and its desire for a non-nuclear Korean peninsula. It also voted to refer the North Korea's noncompliance with its International Atomic Energy Agency obligations to the UN Security Council.
China's president Hu Jintao visited the United States in April 2006. Clark Randt, U.S. Ambassador to China from 2001 to 2008 examined "The State of U.S.-China Relations in a 2008 lecture at the USC U.S.-China Institute.
In 2009 – US President Barack Obama taking office on January 20 2009, there are hopes for increased co-operation and heightened levels of friendship between the two nations. On November 8 2008, Hu Jintao and Barack Obama had a phone conversation in which the Chinese President congratulated Obama on his election victory. During the conversation both parties agreed that the development of US-China relations is not only in the interest of both nations, but also in the interests of the world.
Other organisations within China also held positive reactions to the election of Barack Obama, particularly his commitment to radical climate change policy. Greenpeace published an online article detailing how President Obama's victory will spell positive change for investment in the Green Jobs sector as part of a response to the financial crisis that gripped the world at the time of President Obama's coming to office. A number of organizations, including the Pew Research Center, the Asia Society, the Brookings Institution, and the U.S. Treasury Department have been working with China counterparts to discuss ways to address climate change. Both U.S. and China governments have addressed the economic downturn with massive stimulus initiatives.
The meeting between China President Hu Jintao and U.S. President Barack Obama ahead of the London G20 summit had substantially strengthened relations between the two largest economies in the world, the two leaders decided to establish the mechanism of "China-U.S. Strategic and Economic Dialogue".
The mechanism is an "upgrading" of the former Strategic Dialogue and biennial Strategic Economic Dialogue between China and the U.S. and also a "clear reflection of the growing importance" of their bilateral ties.
The new mechanism will see a higher profile of officials as U.S. Secretary of State Hillary Clinton and China State Councilor Dai Bingguo will chair the "Strategic Track" and U.S. Secretary of the Treasury Timothy Geithner and China Vice Premier Wang Qishan will chair the "Economic Track" of the dialogue.
Considering the fact that the first Strategic and Economic Dialogue will occur in Washington this summer and China President Hu Jintao invited US President Barack Obama to visit China. US President Barack Obama accepted the invitation and US President Barack Obama is going to visit China in the next half of this year.
China US Economic Relations
The People's Republic of China and United States resumed trade relations in 1972 and 1973. U.S. direct investment in China covers a wide range of manufacturing sectors, several large hotel projects, restaurant chains, and petrochemicals. U.S. companies have entered agreements establishing more than 20,000 equity joint ventures, contractual joint ventures, and wholly foreign owned enterprises in China. More than 100 U.S.-based multinationals have projects in China, some with multiple investments. Cumulative U.S. investment in China is valued at $48 billion. Total two way trade between China and U.S. has grown from $33 billion in 1992 to over $230 billion in 2004.
China U.S. Strategic Economic Dialogue which meets annually. Five meetings have been held, the most recent in December 2008.
Taiwan remains a focus of difficulties in the relations between the People's Republic of China and United States. People's Republic of China claims Taiwan as a 23rd province. Officially, U.S. policy is governed by the Taiwan Relations Act, by the Six Assurances, and by the Three Communiques, it has stated a commitment to a One China policy in which it acknowledges the People's Republic of China’s position that Taiwan is part of China.
(Majority of Asian and African countries supports a One China policy)