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"China is Hungary's biggest trading partner and the US is the second-largest one. We hope the two parties can reach an agreement to ensure a fair and free international trade order, instead of a destructive trade war," he said.

"China is one of the few major economies in the world that have maintained normal monetary policy and we are still far from using the unconventional tools, such as the zero and sub-zero interest rates," he added. "China has sufficient policy space to support steady economic growth. Equipped with a rich policy toolkit, China is capable of coping with various uncertainties."

"China is going to play a much more profound role as we think about the next 50 years... There is a potential for us to do a lot together," Barton said at an economic policy forum last week organized by the University of Alberta's China Institute.

"China and Argentina already have a rich history of cooperation in astronomy, starting in the early 1990s," he said, noting that the two countries jointly built a satellite laser ranging system in 2006 and a fixed global positioning system station in 2011.

"But we've never done it for an Olympic Games, which is a very new concept," he added.