Recent developments in the waters surrounding China are yet another source of friction. For hundreds of years, successive Chinese governments have claimed the South China Sea as part of the nation's territory. For example, in the 1930s and 1940s, Chiang Kai-shek's government published maps with a U-shaped dotted line showing that most of the area belonged to China.

But other countries also claim parts of the territory. Washington had embraced a neutral policy toward the issue until US Secretary of State Hillary Clinton announced in Hanoi, Vietnam, on July 23 that the US has a "national interest" in the South China Sea and offered various multilateral remedies to settle competing claims. The abrupt turnaround in US policy irritated China, particularly as it came after one high-ranking Chinese official was reported to have described the area as one of "core national interests".

The spat over the Diaoyu Islands could also find its way into conversations between Hu and Obama. These islands were grabbed by Japan during the First Sino-Japanese War (1895). Taipei and Beijing both say the islands belong to China. In fact, Ma Ying-jeou, Taiwan leader, is the author of a definitive study on the islands' international status. But the US is not calling for an investigation of claims or a "multilateral remedy" to the dispute. Rather, Clinton warned recently that the islands fall within the scope of the US-Japan security treaty. Washington seems to think that its position shows that it is standing with an old friend and key ally. Beijing, however, sees more than a tad of hypocrisy in Washington's policy toward the dispute.

To be sure, the Taiwan question represents a "good news story" in Sino-American relations. Relations between the Chinese mainland and Taiwan are at their best since 1949. Nevertheless, the US continues to sell advanced arms to Taiwan and argues that such sales promote stability and are required by US law. But from China's perspective, the sales violate the terms of the 1982 Sino-US Joint Communiqu and embolden "Taiwan separatists", while doing nothing to promote the peaceful development of cross-Straits ties.

In sum, relations between Washington and Beijing have chilled because of different perceptions and policies toward a variety of economic, political and security concerns. A more complete discussion would also include squabbles over climate change, human rights, defense expenditures, military deployments and a host of other issues. As US Attorney General Eric Holder observed, "given the nature of the Chinese-American relationship and the importance of that relationship, there are going to be areas upon which we will simply not agree". Holder was quick to add, however, that this "does not mean that the relationship should not go forward, should not be seen as a priority for both our nations".

After all, cooperation between the two governments is essential if the international community hopes to cope with a wide range of pressing global problems, including terrorism, the proliferation of weapons of mass destruction, environmental degradation, health issues, dwindling energy supplies and the continuing global economic crisis, to name just a few.

Given the stakes involved, it is likely that President Hu and President Obama will work hard during their meetings to manage disagreements and keep them from escalating. As a first step, however, both leaders could follow the advice of Henry Ford, founder of the Ford Motor Company, who advised that "if there is any one secret of success, it lies in the ability to get the other person's point of view and see things from his angle as well as your own".

The author is the director of the Graduate Program in Global Studies at Missouri State University and the author of numerous articles and books on Sino-American relations.