United States Vice President Joe Biden said last Wednesday that the United States and China should work together to develop greater trust. Biden also maintained that it is in both countries' interest to create reforms in the Chinese economy such as liberating its exchange rate as well as shifting to a consumption-led economy.

The Vice President added that the United States is resolved to strengthen its collaboration with China regarding the restraint of the nuclear programs of North Korea.

Biden made the declaration during this week's formal opening session of the annual U.S. - Chinese Strategic and Economic Dialogue, which began on Wednesday. The forum gave the two countries a chance to talk about strategies for economic reform.

Both US and China fielded cabinet-level leaders for the gathering that was held in Chicago.