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While China does need to make more efforts to show that a rising China is peaceful and beneficial to the world, there are lot of adjustments the US needs to make. One of these is how much space the US is willing to leave for a rising China in the region and the world, where the US has long been a dominant power, and how the US can get used to a China that is becoming increasingly influential worldwide; for example, it is the largest trading partner of more than 120 countries.

The US' early opposition to the Asia Infrastructure Investment Bank and misreading of China's intention in promoting the Belt and Road Initiative to improve connectivity across the region show that the US indeed needs to change its mentality.

In his speech, Wang unequivocally acknowledged that the US is a global power and a member of the Asia-Pacific community. Also, US leaders, including President Barack Obama, have repeatedly said the US welcomes the rise of a peaceful and prosperous China.

But John Hamre, president and CEO of the Center for Strategic and International Studies, hit the nail on the head on Tuesday when he said China knows that it cannot exclude the US and the US knows that it cannot contain China, yet the two countries have to figure out how to work together and not exclude other countries in the region.

Indeed, many people who care about China-US relations have been worried about a drift toward strategic rivalry between the two countries. Clearly neither wants to be a subordinate to the other.

This is why the upcoming summit between Xi and Obama has acquired added importance: the two leaders have to halt the drift by reflecting a shared vision of the most important bilateral relationship of the 21st century. It should be a vision of cooperation and collaboration and a vision that will overcome disagreements and differences.

The author is deputy editor of China Daily USA. [email protected]