On June 7-8, US President Barack Obama and Chinese President Xi Jinping will hold their first summit after Xi assumed office in March. According to a White House statement, the two leaders "will hold in-depth discussions on a wide range of bilateral, regional and global issues. They will review progress and challenges in US-China relations over the past four years and discuss ways to enhance cooperation, while constructively managing our differences, in the years ahead."

The meeting is generating attention because it appears unusual in many respects. For starters, the two leaders are engaging in what China's Foreign Ministry describes as a "no-ties, shirtsleeves" summit at the Sunnylands Estate in Rancho Mirage, California, a west coast retreat used by American presidents. They will engage in a low-key meeting rather than a flashy and pomp-filled media event.

Second, the meeting is important because it comes soon after Xi became China's president. Most observers expected the two presidents to meet first on the sidelines of upcoming G20 summit in Russia in September. But it seems the two leaders want to meet at the earliest possible time.

Third, it appears significant that two entire days have been allotted for meaningful face-to-face discussions. This is in stark contrast to Obama's meetings with other world leaders. For example, the US president could spare only an hour and half (including lunch) for Japanese Prime Minister Shinzo Abe in February. Finally, the summit is unusual because there are so many issues to discuss that there is the risk of the agenda becoming crowded.

A lot of media speculation has focused on the likelihood that talks will cover different ways of resolving the Korean Peninsula issue. China urges all parties to exercise restraint and engage in peaceful dialogue and negotiation to lessen tensions in order to denuclearize the Peninsula. The US is asking China to apply more pressure to convince the Democratic People's Republic of Korea to abandon its nuclear-weapons program and cease its threats. But as Cui Tiankai, China's ambassador to the US, cautioned in May, "our influence over the DPRK may not be as real as what is reported in the media".

It is probable that the ongoing dispute over cyber espionage will find its way onto the discussion agenda. In recent months, the Pentagon and many private US companies have accused Chinese hackers of targeting American firms and government agencies. Obama contends that some - not all - of these cyber attacks are originating in China and are "state-sponsored". Beijing denies the accusations and Chinese officials are calling for cyber security to become an important component in US-China cooperation. They suggest that the two sides hammer out some new rules governing cyberspace.

The two leaders are likely to discuss the Diaoyu Islands dispute between China and Japan. The Japanese government's decision to "nationalize" this disputed territory in 2012 shattered the status quo and put Japan on a collision course with China. Concerns about the complicated quarrels in the South China Sea - including the recent killing of a Taiwan fisherman by the Filipino navy - may also find a place at the negotiating table.

With respect to economic issues, it is likely that differing opinions will be aired. Obama will probably call for further revaluation of the yuan. Complaints about "dumping" (selling products below cost) and failure to protect intellectual property rights could also be raised. Xi will probably remind his host that most of America's economic difficulties may be traced to its budget deficits and irresponsible fiscal policies.

Discussions between Xi and Obama will include other topics as well. For example, Obama will probably ask Beijing to support a tougher stance against Iran and Syrian President Bashar al-Assad. And Xi is likely to ask Washington to abide by the US-China 1982 Communiqu and reduce its arms sales to Taiwan. He may also raise concerns over the "pivot to Asia" policy of the US.

Both leaders are likely to call for cooperation to cope with a wide range of pressing global problems, including the sluggish performance of the global economy, international and domestic terrorism, proliferation of weapons of mass destruction, environmental degradation, health issues and dwindling energy supplies to name just a few.

It is unlikely that the two-day meeting will lead to a dramatic breakthrough in Sino-US relations. Most problems will remain unsolved and a grand bargain is highly unlikely. But that is not the goal of these conversations.

Rather, the purpose of the summit is to allow the two leaders to establish a good working relationship that will enable them to manage differences and lay the groundwork for future cooperation. And it is in the fundamental interest of both countries now as well as in the future to forge a constructive and cooperative relationship. This is why this meeting is so important to the US, China and the global community.

The author is the director of the Graduate Program in Global Studies at Missouri State University.