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China and U.S. Pledge Dialogue on Economic Cooperation

Signaling an attempt to bridge closer economic relations, the world?s remaining superpower, the United States, along with aspiring economic and military superpower China, have pledged to launch an economic dialogue between Beijing and Washington. China is seen by the West as having a fast-growing economy that is sure to be reckoned with unless America can somehow help guide China?s development, instead of just waiting to deal with it later. China?s burgeoning middle class population is living millions behind in abject poverty, but the Chinese economy is growing at a rate faster than most European nations.

In a joint statement released jointly, U.S. and Chinese trade representatives stated that the two nations committed to ?focus on bilateral and global strategic issues of common interests and concerns.? According to Hank Paulson, the U.S. envoy, and Wu Yi, vice premier for trade in the People?s Republic, the new dialogue will ?promote economic co-operation and the growth of China-US relations?, while working together on ?world economic development as well as global economic stability and security.?

China?s economic reforms have not been matched by Chinese political reforms, even as popular search engine Google launched a Chinese version of its products, the company agreed to uphold Chinese censorship laws. The Communist Party still controls all aspects of the media, and is directing the path of the ever-growing Chinese economy.