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China can and will be an invaluable trading partner to both the U.S. and the U.K.

Although China and United States are competitors, China and the United States are indeed partners in trade.

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

A durable, long-term U.S.-China strategic relationship is even more important now than in previous decades. The relationship will continue to grow and prosper to the mutual benefit of all peoples.

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 don't expect the U.S. and China to get into a trade war simply because I think there are good people on both sides who realize that that's not in either economy's interest.

The U.S.-China relationship, of course, has elements of both cooperation and competition.

As President Obama clearly said just a few months ago, China must play by the international rules, the international trading system from which they've benefited so much.

If the Chinese can't buy U.S. products, they'll buy them from European countries and then develop stronger economic ties with France and Germany and perhaps side more with those countries when international issues flare up.