Going forward, we can deepen this cooperation. We can promote financial stability through greater transparency and regulatory reform. We can pursue trade that is free and fair, and seek to conclude an ambitious and balanced Doha Round agreement. We can update international institutions so that growing economies like China play a greater role that matches their greater responsibility. And as Americans save more and Chinese are able to spend more, we can put growth on a more sustainable foundation — because just as China has benefited from substantial investment and profitable exports, China can also be an enormous market for American goods.
Second, we can cooperate to advance our mutual interest in a clean, secure, and prosperous energy future. The United States and China are the two largest consumers of energy in the world. We are also the two largest emitters of greenhouse gases in the world. Let’s be frank: Neither of us profits from a growing dependence on foreign oil, nor can we spare our people from the ravages of climate change unless we cooperate. Common sense calls upon us to act in concert.
Both of our countries are taking steps to transform our energy economies. Together we can chart a low carbon recovery; we can expand joint efforts at research and development to promote the clean and efficient use of energy; and we can work together to forge a global response at the Climate Change Conference in Copenhagen and beyond. And the best way to foster the innovation that can increase our security and prosperity is to keep our markets open to new ideas, new exchanges, and new sources of energy.
Third, we can cooperate to advance our mutual interests in stopping the spread of nuclear weapons. Make no mistake: The more nations acquire these weapons, the more likely it is that they will be used. Neither America nor China has an interest in a terrorist acquiring a bomb, or a nuclear arms race breaking out in East Asia. That is why we must continue our collaboration to achieve the denuclearization of the Korean Peninsula, and make it clear to North Korea that the path to security and respect can be traveled if they meet their obligations. And that is why we must also be united in preventing Iran from acquiring a nuclear weapon, and urging the Islamic Republic to live up to its international obligations.
This is not about singling out any one nation — it is about the responsibility of all nations. Together, we must cooperate to secure all vulnerable nuclear materials around the world, which will be a focus of our Global Nuclear Summit next year. And together, we must strengthen the Nuclear Non-Proliferation Treaty by renewing its basic bargain: countries with nuclear weapons will move towards disarmament; countries without nuclear weapons will not acquire them; and all countries can access peaceful nuclear energy. A balance of terror cannot hold. In the 21st century, a strong and global regime is the only basis for security from the world’s deadliest weapons.