To meet President Hu Jintao in China, US President Barack Obama had to cross the same ocean that former president Richard Nixon did for his famous meeting with Chairman Mao in 1972. Yet today, the distance seems nowhere as far.

In the years since that historic meeting, growing trade and commerce ties have brought the two countries closer. And despite all the uncertainties of the global economy, this much is certain: The relationship between the US and China is more important than ever before.

The US and China are the world's largest and third largest economies, accounting for nearly a third of the global GDP, and the financial crisis has made the world look toward them for leadership.