U.S., China must respect each other's interest: Xi WASHINGTON (Reuters) - China welcomes the United States playing a "positive role" in the Asia Pacific, but the world's two biggest economies must respect each other's "core interests and major concerns," Chinese Vice President Xi Jinping said on Wednesday. In a speech that followed meetings on Tuesday with President Barack Obama and other top U.S. officials, Xi urged the United States to reject bids by Taiwan and Tibet for independence, and outlined areas where Beijing and Washington could work together. "The world is currently undergoing profound changes, and China and the United States face shared challenges and shared responsibilities in international affairs," Xi said. "We should further use bilateral and multilateral mechanisms to enhance coordination between China and the United States on hotspots, including developments on the Korean peninsula and the Iran nuclear issue," he said. Reporting By Chris Buckley and Doug Palmer; Editing by Sandra Maler