A strong economic relationship has always been the anchor for a strong US-China relationship. Over the past 30 years, China's open door policy and appropriate policies from the US have given rise to a quantum leap of activities in trade, finance and investment between the two countries. As a result, both countries have benefited enormously. Yet this very same deepening relationship has and may continue to create frictions and misunderstandings between the two countries, clouding judgment of some people in both countries of the very huge development potentials for the future.
The study, titled “Prospects for U.S. – China Economic Cooperation in the Next Decade,” aims to put these frictions and misunderstandings in perspective and to attempt to identify potential benefits both sides may enjoy in the years to come. The results of the research are to be published and presented through a series of forums to the public.
The research project is headed by distinguished economists from both countries with support from think tanks. A Steering Committee comprised of former senior government officials, renowned scholars, business leaders, labor and environmental and other groups was formed to provide guidance to the overall direction and the work of the project. The same Steering Committee will also help in disseminate the result of the research to the widest audience possible in order to get the broadest support from different sectors of society in both countries. An Executive Committee, headed by Dr. Victor Fung and Professor Lawrence Lau of the Foundation, supported by 2 renowned economists Professor Michael Boskin and Professor Michael Spence from the USA, and 2 renowned economists Professor Fan Gang and Professor Hai Wen from China, oversees the project. In addition, think-tanks from the U.S. and China will be supporting the research work.
The Steering Committee had met in Beijing in March, 2012 for the launch of the study. The Steering Committee is scheduled to meet again at the conclusion of the project in Washington to announce and disseminate the results of the research. It is hoped that a better appreciation of the great potential of economic cooperation will contribute to the well-being of the overall China-United States relations.