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Wen Jiabao Says No G2 Likely to Develop

China does not welcome the idea of a G2, said Premier Wen Jiaobao when meeting with U.S. President Obama on November 18, according to Xinhua

The state media listed three reasons for this position: firstly, China is a developing country with a huge population. It has to keep a sober mind, remembering the long journey, so as to build a modern country; secondly, China follows an independent and peaceful foreign policy by forming no alliance with any country or blocs of countries; finally, China advocates that world affairs should be collectively decided by individual countries, instead of one or two powers. 

Source: Xinhua, November 18, 2009 
http://news.xinhuanet.com/world/2009-11/18/content_12485552.htm