In this collection of new essays, influential Chinese and American scholars address the big bilateral and global issues we face and argue that two great powers can exist side by side - and even develop a shared vision of the future. In recent years, the rise of China's power and influence in global affairs has ignited heated discussions in the United States. Some American policy thinkers have proposed a 'hedging strategy' aimed at preparing for conflict with China. Other American and Chinese observers have sought opportunities to broaden the scope of cooperation between the two great nations. Motivated by a strong desire to identify the common interests - and possibly shared values - between China and the United States, a group of some of the most distinguished Chinese and American scholars, each an expert in their own respective fields, has conducted a major research project that dates back to the fall of 2006. Coming from such diverse scholarly areas as politics, economics, international security, international relations, and environmental studies, they gathered together in three plenary sessions, held respectively in Hong Kong in March 2007, in Beijing in December 2007, and at Harvard University in February 2008. This volume is a product of this fruitful collaboration. Whether working jointly in collaboration or separately, all of the authors called for better mutual understanding between China and the United States so as to allow both countries to better cope with the common challenges they face.