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Even as China's growth slows, it will continue to be a powerhouse for the global economy.

China is doing lots of things right. It's investing in education and R&D, it's opening up, it's more cosmopolitan than it's ever been. I think it's very likely that China will continue to explode economically and certainly become a superpower.

We see China becoming an unstoppable force. It's a huge threat and a huge opportunity.

We all know that China is industrializing at a growth rate of 8 to 10 percent per year. China is on track to pass the U.S. as the largest economy in the world in 20 to 25 years, and China is determined to give its people a chance at this high standard of living that we enjoy.

I think the rise of China is inevitable, because China has moved from a low-cost producer, at low levels of technology, to higher levels of technology, and because it's very competitive, even in some high-tech products they offer at very competitive rates - much lower than their competitors.

What frustrates U.S. officials is that China sometimes seems more comfortable accommodating a strong United States, as it did in past decades, than partnering with an America that's less dominant.

I am convinced that China needs to be a strong trading partner with the United States long term.

Increasingly, the Chinese will own a lot more of the world because they will be converting their dollar reserves and U.S. government bonds into real assets.

China has always been very hospitable, but we can choose who enters our house. We could not allow any companies to enter China and make money while hurting the country.

China has all the advantages in the world. But it doesn't have a history of free thinking, risk-taking pioneers - the kind of people the U.S. is built upon.