Buffett: China and US have a lot to gain by working together

"The United States and China are going to be the two superpowers of the world, economically and in other ways, for a long, long, long, long time. We have a lot of common interests, and like any two big economic entities, there are times when there will be tensions. But it is a win-win situation when the world trades, and China and the United States are the two big factors in that.

"It is a win-win situation. The only problem is when one side or the other wants to win a little bit too much."