In recent decades, the world has witnessed an unprecedented degree of engagement between United States and China. More active cooperation between the two largest economies in Asia-Pacific will be crucial for both regional and global development.

Since the Sino-U.S. rapprochement in the 1970s, trade between the United States and China has ballooned to over $400 billion dollars. While trade forms the bedrock of bilateral relations, significant hurdles still need to be resolved in order to further economic cooperation.