The basis of Sino-US economic relations is the economic interests between China and the United States. Whether the economic interests are complementary or not determines whether the economic relations between the two countries are cooperative or competitive, and the degree of complementarity and competition determines the intensity of bilateral economic cooperation and competition.
China is a developing country and the United States is a developed country. The overall economic level of the two countries is very different, so there is almost no competitive conflict between economic interests.
China needs American investment, technology and advanced equipment, financial services and markets for daily necessities and household appliances that are no longer produced in the United States. The United States needs to expand its investment share in China, export high-tech products and services to China and sell American financial products to China.
Therefore, the economic interests of China and the United States are objectively complementary. Since 1978 China implemented the reform and opening-up policy, China's economy has maintained a strong growth momentum, and China's demand for American capital, technology and market has been increasing. At the same time, China has also provided a bigger export market and investment market for the United States. Therefore, although the political relationship between China and the United States changed from allies to enemies or friends in 1989, the economic relationship between China and the United States can develop steadily.