NEW YORK, Sept. 10 (Xinhua) -- The United States and China should figure out ways to address their differences, as a long-term and stable relationship between the world's two largest economies is mutually beneficial and critical to the rest of the world, experts said Wednesday.
"For the sake of our kids and our grandkids, we have got to figure out a way to deal with China," said former U.S. Ambassador to China Max Baucus, adding that "the United States also should develop a longer term strategic plan with respect to China."
He made the remarks at a panel discussion on U.S.-China relations held virtually by the China General Chamber of Commerce-USA (CGCC) on Wednesday.
Baucus, who served as U.S. Ambassador to China from 2014 to 2017, underscored the importance of "more efforts to get engaged for a longer term relationship with China, because we have to."
"We need each other," he said, noting that the rift between the two countries should be addressed.
"China has to be credited for" its great achievements over the past four decades, said the former U.S. ambassador, noting that the United States should take a more rational stance towards China's development.
"China cannot be prevented from rising," he said, adding that "we have to recognize that as Americans and begin to work with China," which will help the bilateral relationship.
Baucus suggested that the United States and China try to find ways to work together in various areas, including the standard with regard to technology.
"That's a positive effort that we can undertake rather than just critical of each other," the former U.S. ambassador said.
Baucus's opinion on the significance of normalizing U.S.-China relations was echoed by many others at the panel.
"We ought to be cooperating with each other," said Jeffrey Sachs, an economics professor at Columbia University and a senior United Nations advisor, adding that "China's success is a global success."
"A great civilization that has escaped from poverty, developed advanced technologies, is a great benefit for the world, not a curse for the world," he said.
Sachs said the current strained relationship between Washington and Beijing "is mainly driven by America and American anxieties and an American playbook, which is a Cold War mentality" that advocates U.S. primacy.
Experts urged efforts to de-escalate tensions between the United States and China, which will benefit both sides.
The current U.S. policy towards China "is being very dangerous, because geopolitics is not the game," Sachs warned, calling for "a return to rational ideas."
Sachs said the two countries should enhance mutual understanding via extensive communication in a variety of areas such as technology, trade, finance, climate, culture and history.
"This is an extraordinary relationship and it's extraordinarily important for the world to take seriously," he said.
Craig Stronberg, an analyst at consultancy firm PwC, said U.S. protectionism has been on the rise in recent years, affecting Chinese firms and other foreign companies.
However, he said that business communities from both countries understand the mutually beneficial nature of the relationship.
"Regardless of what's happening at the policy level, the fact is that when it comes to the business communities from these economies, they do want to be in one of the others' marketplaces, and they do have a voice," he said.
Xu Chen, chairman of CGCC and president and CEO of Bank of China USA, said recent developments in various U.S. policies, executive action and legislation towards China have created a disturbing environment filled with uncertainty and unprecedented challenges.
"It is our hope that we can weather this storm together, seek compromise, promote mutual respect, and build a brighter future as we climb our way out of this tragic pandemic and economic collapse," said Xu. Enditem
