The next decade will be crucial if China is to grab its place in history. Facing rising prices of oil China is more vulnerable than most, and it could get worse in the near future. Beijing's 2008 Olympic bid A variety of factors make it a leading contender. There are valuable ones as China opens its own interior. President Clinton said, AI believe we have made some real progress in developing a mature, honest and working relationship that is basically quite positive.
Recent developments bear that out.
On Nov. 23, the two sides reached an agreement with China pledging not to sell nuclear missile technology, and the U.S. promising to begin processing licenses for commercial space cooperation, including the launching of U.S. satellites by China. And, China and the U.S. have agreed to provide each other with space for new embassies in their capitals, perhaps the final chapter in the NATO bombing of the Chinese embassy in Belgrade. Yu Yongbo, director of the Chinese army's General Political Department visited the U.S. in late October to meet with Secretary of Defense William Cohen and visit U.S. bases. Chairman of the Joint Chiefs of Staff Gen. Henry Shelton visited Beijing in early November for four days of talks with his counterparts. Under Secretary of Defense Walter Slocomb was In Beijing on Nov. 30, for talks with top Chinese military officials.