This past Tuesday the heads of China and the US announced, if not a wedding, then at least an engagement. Behind them lay a nine-page joint statement full of principled pledges yet devoid of specific actions. This is the theoretical engagement that the Chinese had wanted, one that encompassed a long-term, strategic relationship. The engagement is much more important for the Chinese than any single business deal or any convergent short-term tactics. In the document, Beijing did not obtain the "strategic partnership" (almost an alliance) that it seeks with the US, but it did earn "strategic bilateral trust". This may shroud US intentions, since it is now clear that that the US welcomes a strong and prosperous China. For Beijing, the "strategic bilateral trust" is a guarantee that the US will not try to stop China's economic and political growth by internal subversive actions or external containment.
In return for this, China recognizes US geopolitical interests in Asia, since it acknowledges the US as an Asia-Pacific power. This, in turn, means that China could be ready to support or even help American interventions in the region. This could be very important in the future, especially given the ongoing economic and political decline of Japan as a regional power. Note EU-Digest This most important development should signal to the Europeans that the US, by signing this far reaching agreement with China has officially watered down the historic Atlantic Alliance and that the EU must consequently re-evaluate its strategic alliances within the European sphere of influence, by strengthening its relationship with Russia, Turkey and the Middle East.
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