The benefits to both China and the United States of the former's accession to the World Trade Organization (WTO) are becoming apparent, according to former U.S. Trade Representative Charlene Barshefsky.

In the past five years, China has undergone a profound transformation. Now China has emerged as the hub for Asian trade and investment, the United States has to recognize the profound structural shift in trade and investment in the world, said Barshefsky, speaking at a forum held by Chinese business magazine Caijing.

"A strong and stable China is very much in the interests of the United States," she said.

Barshefsky urged China to strengthen the flexibility of the RMB and said the United States should increase domestic savings.

Referring to the visit of U.S. Treasury Secretary Henry Paulson, Barshefsky said that the visit would address both short-term and long-term issues such as energy and aging.

"It is important for both sides to focus on what is important, not every issue," she said.

"Through dialogue, the two sides will strengthen their relationship and the stability of the global economy," she added.