'New model' for China-US ties

The American delegation to the Strategic and Economic dialogue, and annual event that kicked off on Wednesday in Beijing, is being led by Secretary of State John Kerry and Treasury Secretary Jack Lew.

The talks, due to last two days, are designed to be a platform where both countries can address a few points that have repeatedly caused friction in recent months.

The US has accused China on more than one occasion of Internet spying, while China has been angered at the US stance on disputed territories in the South China Sea and the East China Sea. China's valuation of its own currency has irked the US as well.

Despite the differences, both countries have an incentive to learn to get along: two-way trade worth 500 billion dollars (367 billion euros) per year.

Room to breathe

Neither side denies that there are many differences between the two powerhouse nations, but both are calling for increased cooperation in spite of these differences.

"The United States and China will not always see eye-to-eye on every issue," said US President Barack Obama in a statement released at the start of the meeting.

He said that is why "we need to build our relationship around common challenges, mutual responsibilities, and shared interests, even while we candidly address our differences."

'Ample space' in Pacific

"The vast Pacific Ocean has ample space to accommodate our two great nations," said Chinese President Xi Jinping (pictured with Kerry) at the start of the summit.

Xi added that mutual sovereign respect was the key to a successful relationship moving forward, and the nations should "refrain from imposing your will or model on the other side."

Secretary of State Kerry added: "We have a profound stake in each other's success," and said "it is not lost on any of us that throughout history there has been a pattern of strategic rivalry between rising and established powers."

mz/ipj (AFP, AP)