Last week marked a strengthening of U.S.-China relationships at the economic and political level. In an article in Wall Street Journal, Chinese Vice Commerce Minister Zhong Shan said a stable China-US economic and trade relationship is now more important than ever and the trade between the two countries is a win-win game. In 2009 China became the third biggest market for US exports. American companies have cumulatively invested over $62.2 billion in 58,000 projects in China and have reaped profits amounting to nearly $8 billion in 2008 alone.
During a meeting with China’s new ambassador to the U.S., Zhang Yesui, President Obama made clear his desire for a healthy relationship between China and the U.S. He expressed hopes that the two countries would strive for a strong partnership to work together addressing global issues. He also reiterated the U.S.’s support of the one China policy, which aims to reduce tension between China and Taiwan. China has expressed appreciation over these “positive remarks.”
McDonald`s inaugurated its first Hamburger University in China on Tuesday--not to teach how to make hamburgers and fries--but to train new generations of managers. According to Tim Fenton, the company`s president for Asia, Pacific, Middle East and Africa, China is McDonald`s Inc.`s fastest-growing global market. He said the country`s US$300 billion-a-year “informal eating out” market is growing at an annual rate of 10%, compared with two to three percent in the United States.
The number of U.S. students in China is set to soar in the next four years. With Beijing and Washington working together to bring 100,000 students to China over the next four years, U.S students in China are set to become one of the largest overseas groups. Mutual recognition of academic degrees between China and 34 countries and regions, along with plenty of job opportunities in China has helped attract overseas students. Read more about China`s economy, politics and other current events in the Daily Updates section of our website.
In our most recent article Teaching China: USC`s Global East Asia Program, we find out American students` views about Shanghai. In summer 2009, the USC Global East Asia program took students to Shanghai for a month-long study of the city`s historical development. In the multimedia article, they share their findings with high schoolers in Los Angeles. Find out about this and other news at our website.
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