The common interests linking our two countries have grown. China-US relationship today has gained stronger domestic support and assumed greater global significance. It has become an invaluable asset of both peoples. We have worked together bilaterally and on multilateral occasions, from political and security issues to economic and financial issues, from regional hotspots to transnational challenges.
One can hardly find any issue on which we do not cooperate. The two-way trade volume has surged from $2.4 billion in the early days of diplomatic relations to more than $300 billion today, an increase of over 120 times.
The two sides have conducted fruitful exchanges and coordination on regional hotspot issues and global issues such as counter-terrorism, non-proliferation and addressing the ongoing financial crisis and climate change. Such cooperation serves as a new underpinning of our bilateral relations.
The friendly ties between people of our two countries have become more solid. More than 5,000 people travel across the Pacific Ocean every day. When President Nixon visited China, it was even difficult for us to find a US song.
Today, there are many Chinese fans of different styles of US music. Hollywood movies like Mulan and Kung Fu Panda are quite popular in China. The American people also love Chinese culture. It is said that there are thousands of schools in the United States teaching young Americans the language of Confucius. Our two countries also assisted each other in times of natural disasters.
Over the past 30 years, China and the United States have become more interdependent. Niall Ferguson, a famous economic historian, coined a new word, Chimerica, to describe the close ties between our two countries.
I would like to highlight that it was a Republican administration that opened the door to China and it was a Democratic administration that entered into diplomatic ties with China. During the Clinton administration, our two countries reached agreement on China's accession to the WTO. During the Bush administration, we have become not only stakeholders but also constructive partners.
The tremendous progress in our relations is beyond the wildest imagination 30 years ago.
History is the best teacher. The 30-year history of China-US relations offers us many valuable lessons. I believe it is important that we correctly understand each other's strategic role. What has happened in the past 30 years proves that China and the United States are partners rather than rivals, still less enemies. China-US relationship is not a zero-sum game but a win-win relationship.