The first China-US Strategic and Economic Dialogue will be held in Washington next week. The dialogue is seen as a way to further improve mutual understanding between the two countries. David Shambaugh, director of China Policy Program at George Washington University, believes the dialogue will lift bilateral cooperation to a new level.

Chinese Vice Premier Wu Yi (L) and US Treasury Secretary Henry Paulson deliver statements at the conclusion of the second meeting of the China-US Strategic Economic Dialogue in Washington, capital of U.S., May 23, 2007. [Xinhua/Rao Aimin]

David Shambaugh says the Obama administration is maintaining the China polices of the Bush administration, but is focusing more on climate change, energy security and financial stability. He says the US government now treats China as a partner in global affairs. He believes China-US cooperation has been enhanced to a new level.

He says there are two urgent topics for this dialogue.

He said "The first one is global financial stability. The second one is climate change."

He also says issues involving non-traditional security and anti-terrorism will also be discussed at the meeting.

(CCTV July 24, 2009)