NEW YORK - The United States does not fear an economically stronger China, US Treasury Secretary Henry M. Paulson said Thursday.

US Treasury Secretary Henry M. Paulson [File photo]

 
"We do not fear an economically stronger and more competitive China, which benefits the Chinese people, the American people, and the prosperity of the global economy." Paulson said when addressing the Fourth Annual China Institute Executive Summit.

"The US-China economic relationship is among my highest priorities," he said, adding that it is also among the most challenging.

"The United States and China have a unique role to play in the coming decades in assuring a strong global economy and shaping the global economic agenda," he noted.

Paulson spoke highly of the Strategic Economic Dialogue (SED) between the two countries, which was initiated in 2006.

"They have established a forum that allows both governments to communicate at the highest levels on issues of long-term and strategic importance to ensure bilateral economic stability and prosperity, " he said.

His speech covers several parts, including A Strategy for Economic Engagement with China, Understanding Shared Responsibilities and Realizing Shared Benefits, Shared Responsibility for Open Economies, Shared Responsibility for a Healthy Global Economy, Shared Responsibility for the Integrity of Trade, Shared Energy and Environmental Responsibilities, and Advancing US-China Economic Relations at SED III.

Paulson also touched upon a number of specific issues as RMB appreciation and China's economic reform.

Founded in 1926, China Institute in America is a nonprofit educational and cultural institution that promotes the understanding, appreciation and enjoyment of traditional and contemporary Chinese civilization, culture and heritage and provides the cultural and historical context for understanding contemporary China.