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"China has abundance to offer in music and many other industries," said Fang, adding that the collaboration with Riot Games, the publisher of League of Legends, is just the beginning of UMPG's efforts to tap into China's esports market.

"China owns more than 35 percent of the US debt held by foreigners, but this uncertainty is pushing China to look for ways to diversify its investment away from the dollar. Why on earth would we want to incentivize diversification away from the dollar?" O'Hollaren asked. "The more our economies are interconnected, the less likely we are to take actions that will hurt each other's interests."

"China is a very important market for us both in terms of imports and exports, and for foreign direct investment. We also see a lot of opportunities because China is a very large market," said Timothy Kelley, president of the Imperial Valley Economic Development Corp, a partnership of private enterprises and local government that focuses on growing the regional economy.

"By hosting diplomatic events at home, Beijing shows its resolution and ability to fly the banner of globalization and lead the process of multilateral cooperation," said Ji, from the China Institutes of Contemporary International Relations.

"China is a leading country in this field," Shehata said, adding that China is always ready to help friendly countries improve their infrastructure.