Yin and Yang of U.S. and China

American and Chinese officials said all the right things during this summer's inaugural round of their Strategic and Economic Dialogue. President Barack Obama pledged to "forge a path to the future that we seek for our children." Chinese State Councilor Dai Bingguo wondered aloud whether America and China can "build better relations despite very different social systems, cultures and histories." He answered his own question, in English, with a "Yes we can."

They can, but they probably won't. Yes, Mr. Obama will visit China in November. But when it comes to international burden-sharing, Washington is focused on geopolitical headaches while China confines its heavy-lifting to geoeconomic challenges. The two sides have good reason to cooperate, but there's a growing gap between what Washington expects from Beijing and what the Chinese can deliver.