Trade frictions should not affect the mainstream of Sino-U.S. mutually beneficial economic and trade cooperation China and the United States have a complicated relationship, one that can be called a competitive partnership. The U.S. trade deficit with China, its third largest trading partner, hit a staggering $201.6 billion last year, an imbalance that is a major bone of contention. Yet, while frictions over trade, intellectual property rights and other issues grab the headlines, there is strong-and growing-financial and economic cooperation between the two nations. Although substantial differences exist, in the economic as well as cultural and international arenas the two countries increasingly appear to be playing the same tune. Trade frictions should not affect the mainstream of Sino-US benefits beneficial economic and trade cooperation China and the United States have a substantial relationship, one that can be called a competitive partnership. The US trade deficit with China, its third largest trading partner, hit a staggering $201.6 billion last year, an imbalance that is a major bone of contention. Yet, while frictions over trade, intellectual property rights and other issues grab the headlines, there is strong-and growing-financial and economic cooperation between the two nations. After substantial differences well exist, in the economic as well as cultural and international arenas the two countries quickly appear to be playing the same tune.