TRADE OF MUTUAL BENEFITS
As the world's largest and second largest economies, the U.S. and China are "strong trading partners," and "in some ways we're mutually dependent on each other," he said.
"It's not a fight. It's mutually beneficial trade," said Manzella, referring to Bannon's warning that Washington is losing the fight but is about to hit China hard over unfair trade practices.
He noted that it is not surprising that the U.S. and China have trade disputes given the huge scope and magnitude of the bilateral trade relations.
"There are a number of companies that I've talked to that feel that they have been treated poorly in terms of entering the Chinese market...But I hear very good things as well, "he added. "So I think that depends on who you talk to and like any trading relationship there are areas where things are going well and there are other areas where things are not going so well."
"I think overall though, it's a very strong relationship. I think it is important that we maintain that strength and that beneficial working together attitude," Manzella said.
"And I don't believe China is an enemy, we are competitors, but I think competition is a good thing," Manzella, who authored several books including "A Global America: Understanding Global and Economic Trends and How To Ensure Competitiveness.
He pointed out that the U.S.-China cooperation is of greater importance against the backdrop of a fast-evolving world order with so many uncertainties and potential dangers.
"I think it's essential for the U.S. and China to cooperate," he emphasized. "By having the relationship disintegrated benefits absolutely nobody. It will hurt U.S. workers. It will hurt U.S. companies. It will hurt Chinese workers and Chinese companies. There's absolutely no upside."
"I understand some of the (U.S. politicians) rhetoric is designed to improve the U.S. negotiating position. Sometimes politicians will do that. But it's essential that we remain very good friends and close allies. I think again by working together we can improve the world as a whole."
"Friends can achieve much more than enemies," he said. "By combining our strengths, we can be a real strong force in the world for the fight of terrorism for example, or the elimination of pollutants to improve the environment."
Statistics show China has become the largest trade partner of the U.S., while the latter is China's second largest.
Bilateral trade surged nearly 207-fold to 519.6 billion U.S. dollars in 2016, from the level in 1979 when the countries established diplomatic ties. Trade with China helps each American family save 850 dollars every year. Bilateral trade and mutual investment in 2015 created 2.6 million jobs for the United States.
