Tad Mariano, U.S. director of the Eurasian Group, said issues around Hong Kong and the South China Sea

Tad Mariano, U.S. director of the Eurasian Group, said issues around Hong Kong and the South China Sea have further exacerbated tensions between the US and China.

"There is a lot of space here. It is very clear that we are in for a deeper chapter of US-China relations," said Todd Mariano, US director of the Eurasian Group.

William Rinsch of the Center for Strategic and International Studies says China may actually like to win the US presidential election over its Democratic rival, former Vice President Joe Biden.

According to political risk experts, the relationship between the US and China - the world's top two economies - suggests that the two countries are ready to fight each other.

"There's a lot of space here, and it's clear that we're in for a deeper chapter of US-China relations," Todd Mariano, director of the Urea Group, said on CNBC's "Squawk Box Asia" on Thursday.

“Now we are looking at making more progress in the field of technology and export.

Over the years, conflicts between the two countries have focused on issues such as their trade imbalance and competition for technology - leading to a tariff war to disrupt the global economy.

In recent months, the U.S. and China have discussed several issues with each other, including the origins of the coronavirus and the autonomy of Hong Kong.

Hong Kong, the main commercial and financial hub of Asia is an autonomous Chinese territory with special trade relations with the US, but as Beijing tightens your control over Beijing, Washington has begun to withdraw some of the city's powers under US law. The area by drafting national security legislation.

In addition, Marino said China's expanding Belt and Road Initiative and its continued presence in the South China Sea could also cause its tensions with the US.

The Belt and Road Initiative is a broad infrastructure that many analysts and critics see as a way to expand global influence through Chinese debt. The South China Sea is an important maritime route for world trade, with Beijing claiming most of its territory, while other countries are claiming parts of it.

"Because there is such widespread conflict, it actually reduces the ability of policymakers to address and resolve tensions over these issues," Mariano said.

Trump or Biden?

Analysts have warned that US President Donald Trump, who is seeking a second term in the White House, could defeat rhetoric and other measures against China to woo voters. The US presidential election is scheduled for November this year.

If Trump begins to reshuffle, Washington's attitude toward Beijing will be: greater threats and more tariffs, and perhaps higher tariffs, said William Rinsch, senior adviser and scholar of international trade at the think tank, Center for Strategic and International Studies.

However, Beijing may really like to win the election against its Democratic rival, former Vice President Joe Biden, Reinsch told CNBC's "Street Signs Asia" on Thursday.

"I asked this question to a group of Americans doing business in China. They all said the same thing: they think the Chinese would like Trump to be reelected," Reinsch told CNBC's Chinese side in response to President Xi Jinping's query. Want to become the next US president.

"They believe that the Chinese feel that the damage Trump is doing to the Western bloc is more than the damage they are doing, so they come out clean," he said.

Since taking office in 2017, Trump’s “America First” policy has separated America from its closest allies. The president threatened increased tariffs on the European Union and broke the nuclear deal with Iran, backed by traditional allies, including the UK, France, and Germany.

Trump last month approved a plan to withdraw nearly 9,500 US military personnel from Germany. The move comes at a time when the president has complained that Germany is “guilty” of its payments to the North Atlantic Treaty Organization or NATO, an intergovernmental military alliance between 30 North American and European countries.

"They are upsetting our allies, they are losing friends - this will enable China to open up to Europe and the rest of the world," Reinsch said.

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