Powell, who made the remarks in an address delivered at University of Louisville, Kentucky, said while he was accompanying President George W. Bush to attend the APEC summit in Shanghai a few weeks ago, he was "amazed" at how the city of Shanghai had grown compared with 30 years ago when he visited Shanghai.

"China's remarkable growth in the past two decades has come from investing the savings of the Chinese people, from the capital of foreign business people and from the profits earned by the Chinese exporters", he said of the US-China relations in the speech focusing mainly on the US Middle East policy.

At the same time, he said, "China's growth benefits American consumers, the average American citizen, who can find good value in a Chinese product at a local store."

Powell said that the two-way trade helps everyone and benefits both societies.

(People’s Daily November 20, 2001)