Expectations for high-level dialogue

More than 200 US exhibitors from agricultural, semiconductors, medical devices, new energy vehicles, cosmetics, and other sectors attended the just-concluded China International Import Expo, marking the largest US presence in the history of the annual event.

Voicing their expectations for the upcoming meeting between Xi and Biden in San Francisco, they hoped that the summit will provide more certainty for bilateral economic and trade relations and the recovery of the world economy.

Eric Zheng, president of the American Chamber of Commerce in Shanghai, said that he expects the leaders' meeting to promote the steady development of bilateral relations.

The zero-sum approach should be avoided when dealing with China-US relations, Zheng said, adding that peaceful coexistence is the only way to promote common prosperity and lays a foundation for the happiness of the two peoples.

Statistics from both sides show that bilateral trade reached a record high in 2022 with strong resilience, which fully demonstrates the fact that the economic structures of China and the United States are highly complementary and economic cooperation and trade exchanges are mutually beneficial.

"China is a very good customer. They know how the trade works. I think US companies like to do business with their Chinese counterparts," said Jim Sutter, CEO of the US Soybean Export Council.

In 2022, the trade volume of agricultural products between China and the United States exceeded 50 billion US dollars, and the export of agricultural products from the United States to China reached a record 42 billion dollars.

"China is a good market for US agricultural products. It's our top market. We think it can be even better. We see great growth potential here," said Jason Hafemeister, acting deputy undersecretary for trade and foreign agricultural affairs at the US Department of Agriculture.

Addressing a recent think tank forum in Beijing, US political scientist Joseph Nye said it is "misleading" to say that China and the United States are entering a new Cold War, as the two countries have great economic, social and ecological interdependence.