Obama: US, China relationship stronger

President Barack Obama says the relationship between the U.S. and China has grown stronger in recent years.

Speaking at the beginning of a meeting with China's President Hu Jintao, Obama says the two countries have "special obligations" to ensure nuclear stability and strong, stable economic growth.

Hu says China stands ready to work with the U.S. to create dialogue and increase cooperation.

U.S. concerns over China's currency hangs over the G-20 economic meetings in South Korea this week. The U.S. contends that China deliberately undervalues its currency, which gives it an unfair competitive edge.

China has taken issue with U.S. policies, as well. China downgraded U.S. debt, claiming the United States was depreciating the dollar.