Dollar falls ahead of European debt deal

The fifth China-U.S. Relations Conference concluded Monday at Texas A& M University with conference participants voicing hope for healthy China-U.S. ties and more contacts and trust-building between the two countries. The 2011 China-U.S. Relations Conference, the fifth in a series that began in 2003, was attended by some 600 prominent governmental, businesses and academic leaders from China and the U. S.. \"The common interests of China and the United States are growing, and the cooperation between the two countries is becoming more solidly-based and wide-ranging,\" Chinese Foreign Minister Yang Jiechi said in a congratulatory letter to the conference. \"China-U.S. ties have grown into one of the most dynamic, promising and eye-catching bilateral relationships in the world, and hold great significance to the world peace, stability and prosperity,\" he said. \"The conference will provide an important platform for extensive and in-depth exchange of views, and will play a positive role in promoting the sound and steady growth of the bilateral relationship and in advancing the friendship and cooperation between the various sectors of the two countries,\" Yang said. Zhang Yesui, China\'s ambassador to the U.S., in his opening speech at the conference called the China-U.S. relations \"one of the most important and dynamic relationships in the world.\" Together, China and the U.S. account for about one third of the world economy, one quarter of the world population and one fifth of the international trade, Zhang said. \"A stable and growing China-US relationship not only serves the fundamental interests of our two countries and two peoples, but also contributes to peace and development of the Asia-Pacific region and the world at large,\" he said. Citing issues that have been harming the China-U.S. relations, including the U.S. arms sale to Taiwan, Zhang called for the two countries to improve strategic mutual trust, which is the basis for any partnership. U.S. Deputy Secretary of State William Burns, in a keynote speech to the conference, also said contacts with China will help avoid misunderstanding and miscalculation. \"In other words, we will increasingly live in a world where America and China cannot afford the luxury of quietly operating in parallel,\" he said. Burns named a number of areas the two countries can cooperate in, saying that the Obama administration has increased high-level meetings and setting up new forums for airing differences, which has set a \"positive tone.\" \"If we want to avoid misunderstandings and prevent crises before they emerge, then communication, transparency and trust will be essential,\" he said. This year\'s China-U.S. relations conference, under the theme of \"Institutionalizing Collaborative Research and Partnership\", aims to promote, strengthen and expand academic and business collaborations between the two countries. Topics addressed at the conference included economic and trade relations, collaborations and joint ventures; joint energy research opportunities and development policies and the future of U.S.-China relations from a historical and comparative perspective.