Over the period of a generation, the world has changed beyond recognition. The categories of the Cold War, East and West, the Third World are gone; even the concepts of North and South are not clear anymore. We all live in one world now. People trade, travel and study across the borders more than ever before. On the flip side, we face challenges on a global scale as well, such as cyber-crime, climate change, terrorism and the proliferation of weapons. Interdependence is the political reality of today. Managing this interdependence is one of the great challenges of our young century.

The European Union and China are key players in addressing global challenges and at the forefront in trying to find solution through multilateral mechanisms, such as the G20 and the UN. The EU and China should be partners in adapting to the changing world. We can and we should do a lot more together.

I embark on my first official visit to China as President of the European Council. This visit underscores the strategic importance the EU attaches to our relationship and the political investment at its highest level. In the west of China I will visit Chengdu; in the north, Beijing, and more south, Shanghai: the different angles of contemporary China.

I come here as a friend of China with respect and trust, and a strong conviction in honest dialogue. We will discuss our partnership in strategic terms. I realize that there is a political need to understand China better and also to explain better the EU, especially after the entry into force of the Treaty of Lisbon. The ultimate goal is for the EU and China to work closer together. This is not only in our interest, but also of the world at large.

China's rapid growth is making an immense contribution to overall global development. Lifting hundreds of millions of people out of poverty is an unprecedented achievement. I see China's rapid economic development and rise on the global scene as a major window of opportunity for Europe and for elevating our strategic relations to a new level.

Europe produces more than 20 percent of the world's GDP. It is the world's largest market, the biggest for China, a single market and clearly a good place to invest in and to reach out to 500 million consumers. We have a strong basis of shared interests. Our societies and economies are interlinked on a scale unprecedented in the history of our relations. I am certain we are developing in a direction where national and global interests will gradually coincide.

China has been supportive to euro countries facing the difficulties experienced by the Euro, just as the EU supports China's stable development with investment and technology. Both sides are taking our mutual interdependence to new heights: we are becoming part of the solution of the other side's challenges.

It is our shared interest to gradually reduce imbalances in our economic relations. This will also serve the common objective of a dynamic, yet sustainable global economic order. The key challenge of the coming years will be to preserve the climate of openness in our economic and trade relationships. With populism gaining some ground in political affairs, the risk of protectionism should not be underestimated. It is therefore a must to make significant progress towards a level playing field in our economic relations.

China plays an even more significant role in the global economic system, putting it on a more fair and representative foundation. This wider representation entails a greater responsibility, as enjoying the benefits of an open and interdependent world implies contributing to its stability. But China's global image is also influenced by factors going beyond the realm of economic and development performance. China's contribution to implementing the universal principles of human rights and the rule of law will certainly be an important element in shaping its global public reputation.

Climate change is another example where national and global interests ultimately coincide. We all live on the same planet. The EU has always been a champion of combating climate change. China has gone a long way to realizing that action aimed at reducing climate change is not to the detriment of national interests, and has now become one of the world leaders in green technologies.

Managing and adjusting to change often implies the need to react to unforeseen strategic challenges. With its reaction to the sovereign debt crisis in the eurozone, the EU has proven that it is able and willing to live up to this task. European political leaders faced the challenge resolutely. They decided to strengthen the economic and monetary union of Europe further. The euro is a sound, strong and healthy currency.

But this should be no reason for complacency. We have made good progress in tackling sovereign debt crisis in the euro area. But we are just learning that the post-crisis period is at least as complex and difficult as the months behind us were. The momentous political changes in the Arab world have also taught us the humbling lesson that genuine stability can no longer come at the price of values and principles. Stability and economic development in the region can only be sustainable if built on the lasting foundation of democracy, social justice and human rights.

A strong Europe playing its adequate role in global affairs is a work in progress. We have made great strides in realizing our vision, but a lot remains to be done. Developing a truly strategic partnership between the European Union and China will take us a significant step closer.

The author is president of the European Council.