Obama declares new era of cooperation with China
WASHINGTON - President Barack Obama declared a new era of ``cooperation, not confrontation'' with China on Monday, even though two days of high-level talks were not expected to resolve differences over the two nations' yawning trade gap and China's unease over soaring US budget deficits.
``The United States welcomes the continuing peaceful rise of China as a world power and that, in fact, it is in the United States' interest that China continues on the path of success, because we believe that a peaceful and stable and prosperous China is not only good for Chinese but also good for the world and for the United States,'' Obama said alongside Xi ahead of their first bilateral meeting.