Henry Paulson, US Treasury Secretary, meets with British Finance Minister Gordon Brown at 11 Downing Street in London, in November 2006.[AFP]

U.S. Treasury Secretary Henry M. Paulson said Monday that U.S.-China economic relationship is vital to U.S. future prosperity.

"Managing our economic relationship with China to ensure both nations benefit is vital to our nation's future prosperity," Paulson said in his article published Monday by The Washington Post.

"A market-based economy in China, with sustainable economic growth and full participation in rules-based international trade, is in our best interest -- and in the interest of the Chinese people," he said.

The U.S.-China economic relationship epitomizes both the opportunities and challenges of globalization , he said in the article titled "A Broad Dialogue With China."

The secretary said that this week a delegation made up of U.S. cabinet secretaries, agency directors and Federal Reserve Chairman Ben Bernanke, will participate in the first meeting of the Strategic Economic Dialogue between the two countries.

"My colleagues and I will meet with Chinese leaders in Beijing for discussions in three areas: maintaining sustainable growth without large trade imbalances; continuing to open markets to trade, competition and investment; and improving energy security and the environment," he said.

Paulson said that the United States and China "each have a vision of how our relationship will evolve, and in many respects our visions are similar."

"We both want strong commercial ties that produce benefits for workers and consumers in America and China. We both want China to grow in a way that is sustainable economically and environmentally and that contributes to global prosperity," he said.

"By engaging Chinese leaders with an eye to producing long-term benefits for our two nations, we can build a productive and prosperous partnership for the 21st century," said Paulson.

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