Paulson calls on next U.S. president to strengthen relations with China

Special Report: Global Financial

Crisis

Special Report: U.S. presidential election 2008

NEW YORK, Oct. 21

(Chinese media) -- The next U.S. president should fully recognize China's emergence as

a global economic leader, and take U.S.-China relations to the next level

through more engagement, U.S. Treasury Secretary Henry Paulson said here

Tuesday.

Addressing the annual gala of the National Committee

on U.S.-China Relations (NCUSCR) in New York, Paulson advised the next U.S.

president to start from the perspective that China will continue to play a key

role in the world economy.

"We must recognize that China's growth is an

opportunity for U.S. companies and consumers, for our producers, exporters and

investors," he said, "A stable, prosperous and peaceful China is in the best

interest of the Chinese people, the American people and the rest of the world."

Paulson appreciated that China has been working

closely with the U.S. government in response to the current world financial

crisis.

"We welcome Chinese Premier Wen's statement that

China will play a constructive and cooperative role in global efforts to deal

with the current financial market turmoil," said the secretary.

He reiterated that the only path to success with

China is through engagement, with the Strategic Economic Dialogue (SED) being an

important facility.

Reviewing achievements of the SED talks, which was

initiated by Chinese President Hu Jintao and U.S. President George W. Bush in

2006, Paulson said that a strong foundation has been built for this dialogue by

focusing on policy areas in which China's reform agenda and U.S. interests

intersect.

He hopes that the next U.S. president will expand on

the SED to take U.S.-China relations to the next level.

Established in 1966, the NCUSCR is a private,

non-partisan and non-profit organization. In 1972, it sponsored the historic

visit of China's ping-pong team to the United States.