[By Jiao Haiyang/China.org.cn]

Chinese President Xi Jinping's latest visit to the United States is significant for many reasons. It will allow the USA and the PRC to once again review and exchange on the state of mutual ties, as well as bilateral concerns about global political, economic, security and cyberspace issues. Additionally, they can share their differing interpretations of other major issues and events elsewhere.

Washington will lay down the usual red carpet and it will be all smiles when the two presidents meet. However, lurking in the deep recesses of their minds will be their growing mutual interests and concerns about where their respective countries stand on the world stage, today and tomorrow.

China is concerned about the USA's continuous promotion of risky incursions and tensions in the South China Sea, as well as the implications of Japan's recent decision to dump pacifism in favor of a return to militarism.

On the other hand, Washington is worried about the demonstrable global effects of China's growing economic power, as seen in the recent global stock exchange responses to China's currency value adjustments. Washington is also worried about the possible implications China's economic slowdown might have on the USA.

Not on the agenda, however, are the two leaders' separate interpretations of China's growing role as a global political and economic game-changer. A leading member of the BRICS, China is also leading the creation of the new and growing alternative global financial institutions which offer better terms to developing countries than the World Bank and the IMF.

New York, London and other world financial capitals have long had daily misgivings about the growing strength and influence of the Chinese currency in world trade. Washington also continues to worry that China has become a more trusted and reliable partner to Africa, Asia, Latin America and the Caribbean.

Under President Xi's watch, China has strategically redefined its political and economic relationships with its neighbors and its global allies, as well as with most countries that were once forced to rely exclusively on the West, with absolutely no alternative to the Bretton Woods institutions that have controlled world finance for so long. Today, China is adequately represented in the leadership of these traditional global financial entities, in accordance with its current value and contributions.